Federal Direct Subsidized (for undergraduate students only)
This federal program allows first-year students to borrow up to $3,500 per year, sophomores, up to $4,500 per year, and juniors and seniors, up to $5,500 per year. The Financial Aid Office will determine eligibility. The student should maintain Satisfactory Academic Progress. The interest rate is set at a fixed rate with a default fee subtracted by the federal government before the loan is disbursed to the student account. The grace period is six months. The application for the loan is located at studentaid.gov.