Federal Direct Unsubsidized Loans for Graduate Students | Financial Aid

Direct Unsubsidized Loan

Annual maximum

$20,500

Cumulative maximum total debt

$138,500 (includes amounts borrowed as undergrad students)

Interest rates

 
4.30%
For Graduate Direct Unsubsidized loans disbursed between July 1, 2020 and June 30, 2021
6.08%
For Graduate Direct Unsubsidized loans disbursed between July 1, 2019 and June 30, 2020

Fees

Fees are deducted from the Direct Unsubsidized loan proceeds when they are disbursed.

 
1.057%
For loans first disbursed after Oct. 1, 2020 and before Oct. 1, 2021 (For example, on a $5500 loan, $58 will be kept as a loan fee and therefore $5,442 will be credited to the students account when it is disbursed to the school.)
1.059%
For loans first disbursed after Oct. 1, 2019 and before Oct. 1, 2020 (For example, on a $5500 loan, $58 will be kept as a loan fee and therefore $5,442 will be credited to the students account when it is disbursed to the school.)

Applying for Direct Unsubsidized Loans

  1. Complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov
  2. Receive your final financial aid award from Carroll
  3. First time borrowers at Carroll need to complete a Direct Master Promissory Note at studentaid.gov
    • Under the Complete Aid Process dropdown, select "Subsidized/Unsubsidized Loan MPN"
    • Login clicking the blue "Log In" button
    • Once logged in, click the blue "Start" button to complete your Master Promissory Note
  4. First time borrowers at Carroll need to complete Entrance Counseling at studentaid.gov
    • The Federal Government requires that all first time Federal Direct Loan borrowers complete an entrance counseling session before they receive any loan funds. This session is designed to provide the borrower with important information about the Federal Direct Stafford Loan program, including your rights and responsibilities as a borrower.
    • Under the Complete Aid Process dropdown, select "Complete Entrance Counseling"
    • Login clicking the blue "Log In" button
    • Once logged in, click the blue "Start" button and complete your graduate Entrance Counseling

Exit counseling

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