Subsidized William D. Ford Direct Loans

Type of aid: Loan - must be repaid
Award amounts: Up to $3,500 for freshmen
Up to $4,500 for sophomores
Up to $5,500 for juniors, seniors, and continued undergraduate-level study
Up to $8,500 for graduate students

A loan fee of 1.072% is deducted from your loan before it is applied to your student's account, for loans with first disbursements on or after 12/1/13. Disbursements after 9/30/14 1.073% will be deducted
Application process: Must have completed a Direct Loan Master Promissory Note (MPN), Direct Loan Entrance Interview, FAFSA, and all associated paperwork to complete your financial aid file. Apply for a Federal Direct Loan here.
Eligibility requirements: Must show remaining financial need after other aid
Repayment: Begins six months after last date of half-time enrollment. Interest for most undergraduate students is fixed at 4.66% for 2014-2015
Renewal requirements: Eligibility is evaluated annually
EFC eligibility range: Open
Enrollment requirements: Half-time or more enrollment is required to obtain any of these funds
Grade-level eligibility: All degree-seeking students
Costs this aid can cover: Any educationally related expense

FAFSA Code: 001822

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