William D. Ford Federal Direct Loan Program (Unsubsidized)
These loans are available directly from the federal government to graduate students who need additional funds. Students may borrow up to $20,500 per academic year minus any subsidized loans received within the same award year. An origination fee of 1.069 percent of the loan amount is deducted from the amount borrowed. The interest rate is fixed at 5.31 percent. Two repayment options for interest are available. Students may begin repayment while still attending school by paying the interest, with repayment of the principal deferred until after graduation or termination of attendance. The aggregate total that may be borrowed from this program is $138,500 minus any subsidized loans received including undergraduate loans.