The Subsidized Federal Direct Loan is available to students who demonstrate financial need through the FAFSA.  Undergraduate students may receive a loan up to the amount of need, but not more than

• $3,500 for first year student
• $4,500 for a sophomore level student
• $5,500 for a junior or senior level student

up to a maximum of $23,000.  An origination fee of up to 0.5% may be deducted from the proceeds of the loan.  Interest and repayment begins six months after graduation or after the student is no longer enrolled at least half-time (6 credit) hours.

The Federal Direct Loan program requires borrowers to complete entrance counseling and a Master Promissory Note prior to having the funds credited to the student's account with the Business Office.  These requirements can be completed by going to www.StudentLoans.gov and logging in using the student's SSN and PIN used to sign the FAFSA.

Students should consider the long-term effects of excessive debt and borrow only what is needed.