Loan Details

Loan Details

Subsidized/Unsubsidized Direct Academic Loans

Federal Direct Loans are loans for undergraduate, graduate and degree that is professional.

There are two main forms of Direct Loans: Subsidized and Unsubsidized. You really need to have financial need certainly to get a Subsidized Direct Loan. Economic need just isn’t a necessity to acquire an Unsubsidized Direct Loan. The U.S. Department of Education will probably pay the attention that accrues on Subsidized Direct Loans during particular durations. The time limits regarding the interest that is subsidized is available right right here.

Eligibility

    Must certanly be undergraduate, graduate, or expert pupil enrolled at least half time as being a degree-seeking pupil. Note: Graduate and students that are professional not eligible for the Subs

    Federal Direct Loan Limits – Purdue University 2019-20

Year / Classification

Total Annual Level

Level Limitation

Optimum Subsidized Amount

Calculate Annual

Unsubsidized Eligibility

Rate of interest for

Loans Disbursed Between

7/1/19 – 6/30/20

Aggregate Limits Dependent Undergraduate Pupils Freshman $5,500 $3,500 = $5,500 – Granted Sub Amount 4.529%

(a maximum of $23,000 is subsidized)

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