Federal Direct Loan Program
To be eligible to receive a Federal Direct Loan, a student must be enrolled at least half-time in an eligible program, complete the Free Application for Federal Student Aid (FAFSA), meet all applicable federal eligibility requirements, and not be in default on a federal student loan or owe a repayment on a federal grant.
Federal Direct Unsubsidized Loans are available to eligible graduate students regardless of financial need, subject to applicable federal eligibility requirements and annual and aggregate borrowing limits.
Interest begins to accrue when the loan is first disbursed. Borrowers may choose to pay accrued interest while enrolled or allow it to accrue in accordance with the terms of the loan.
The amount a student may borrow is determined by federal annual and aggregate borrowing limits, enrollment status, prior federal student loan borrowing, and other applicable federal eligibility requirements. Total financial aid awarded, including Federal Direct Loans, may not exceed the student’s Cost of Attendance.
Graduate PLUS Loans are generally not available for periods of enrollment beginning on or after July 1, 2026. A graduate student may remain eligible for a Graduate PLUS Loan only if the student qualifies under the federal interim exception.
A student may qualify for the interim exception if the student was enrolled in the applicable program of study as of June 30, 2026, and a Direct Loan was made for that program before July 1, 2026. Eligibility under the interim exception is limited to the student’s federally defined expected time to credential and may end if the student withdraws or otherwise ceases to be enrolled in the applicable program.
First-time Federal Direct Loan borrowers must complete Entrance Counseling before loan funds can be disbursed. Entrance Counseling helps students understand their rights and responsibilities as federal student loan borrowers.
Student borrowers must complete the applicable Master Promissory Note (MPN) before Federal Direct Loan funds can be disbursed. The MPN is the legal agreement under which a borrower promises to repay the loan according to its terms and conditions.
Federal regulations require student borrowers to complete Exit Counseling when they graduate, withdraw from the College, or cease enrollment at least half-time. Exit Counseling provides important information regarding repayment obligations, loan servicing, available repayment options, and borrower rights and responsibilities.
Additional information regarding Federal Direct Loans, current annual and aggregate borrowing limits, Graduate PLUS transitional eligibility, Entrance Counseling, the Master Promissory Note, repayment, and borrower responsibilities is available from the Office of Financial Aid and at studentaid.gov.