Federal Loan Programs

Federal Direct loans are low fixed-rate student loans for undergraduate and graduate students attending college.

Direct loans are the most common and one of the lowest-cost ways to pay for your education. Direct loans are available to students enrolled for a minimum of six credits per semester.

Types of Stafford Loans

  • Subsidized Direct Loans - Need-based. Interest does not accrue on the loan while you are in school at least half time or during future deferment periods because the federal government pays (subsidizes) the interest during these times. The interest rate is presently fixed at 3.86%.
  • Unsubsidized Direct Loans – Not need-based. Accrues interest immediately upon pay out (disbursal). The interest rate is presently fixed at 3.86%.

Direct Loan Amounts (Annual Limits)

  • Undergraduate Students (dependant)
    • Freshmen: $5,500 (of which no more than $3,500 can be subsidized)
    • Sophomore: $6,500 (of which no more than $4,500 can be subsidized)
    • Junior and Senior: $7,500 (of which no more than $5,500 can be subsidized)
  • Undergraduate independent students and dependent students with parents who are been denied/ineligible for Parent PLUS Loan
    • Freshmen and Sophomore: $ 4,000
    • Junior and Senior: $ 5,000
  • Graduate
    • Maximum of $20,500 unsubsidized per year. The interest rate is presently fixed at 5.41%.
    • Chiropractic Program students can receive a maximum of $37,167 per year unsubsidized. The interest rate is presently fixed at 5.41%.

Direct Loan Maximum Lifetime Borrowing Limits

  • Undergraduate
    • Dependent Students = $31,000
    • Independent Students = $57,500
  • Graduate Lifetime Maximum Borrowing
    • Master's degree students = $138,500
    • Professional degree students (chiropractic) = $224,000

Applying for a Direct Loan:

  • Meet with your Financial Aid Counselor to determine the maximum amount you can borrow. Your counselor will also give you instructions on completing an online Direct Loan Entrance Interview. Make sure you write down your confirmation number.
  • Complete online FAFSA
  • Apply for your loan by completing a Direct Loan Master Promissory Note (MPN) at the Department of Education website. [www.studentloans.gov]

Nine simple steps to complete your MPN:

  1. Login to StudentLoans.gov. You will need the FAFSA/Department of Education PIN to begin the process. If you do not remember your PIN you can get a new on at www.pin.ed.gov.
  2. Disclosure and consent
  3. Provide name and school
  4. Complete MPN
  5. Review/read draft MPN
  6. Sign your MPN
  7. Review signed MPN/enter confirmation code
  8. Confirm acceptance of MPN terms and submit MPN
  9. Success! Now print your MPN.
  • D'Youville College participates in Electronic Funds Transfer (EFT). The loan funds will be automatically applied directly to your account in two equal disbursements (one for each semester).
  • Meet with your Financial Aid Counselor to complete a Direct Loan Exit Interview prior to leaving D'Youville College.
  • Payments for Direct loans (both subsidized and unsubsidized) begin six months after graduation, withdrawal, or if enrollment falls below six credit hours.


Learn More

  • Steps

    Review the steps you need to take to apply for financial aid.
    Read more

  • Glossary

    See a glossary of important financial aid terms.
    Read more

  • FinAid Online

    After you file your FAFSA, use FinAid Online to manage your costs and aid package.
    Read more

  • Timeline

    Your applications for financial aid should be submitted as early as possible.
    Read more

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