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Related Features
Ford Direct Loan
These funds are lent directly to students through participating postsecondary schools, with funds borrowed from the US Treasury. Direct Loans include subsidized and unsubsidized loans, PLUS loans for parents, and Consolidation Loans, which allow borrowers to combine federal education loan debt.
| Dependent Undergraduates | Subsidized | Unsubsidized |
| First Year | $3,500.00 | $2,000.00 |
| Second Year | $4,500.00 | $2,000.00 |
| Independent Undergraduates (and dependents whose parents are unable to borrow under the Plus program) | ||
| First Year | $3,500.00 | $6,000.00 |
| Second Year | $4,500.00 | $6,000.00 |
| Graduate and Professional Students | $8,500.00 | Unchanged at $12,000.00 |
| Independent Students (and dependent students whose parents were denied a PLUS Loan) | Combined Base Limit for Subsidized and Unsubsidized Loans | Additional Limit for Unsubsidized Loans | Total Limit for Unsubsidized Loans (minus subsidized amounts) |
| First-Year Undergraduate (Freshman) | $3,500 | $6,000 | $9,500 |
| Second-Year Undergraduate (Sophomore) | $4,500 | $6,000 | $10,500 |
These payments have to be paid back 6 months after graduation or withdrawal. The repayment amount may vary according of the amount that borrower made.
Federal fixed-loan interest rates for loans first disbursed on or after July 1, 2008 are as follows:
- Subsidized Stafford Loan (Undergraduates Student) – 6.0 Percent
- Subsidized Stafford Loan (Graduates Student) – 6.8 Percent
- Unsubsidized Stafford Loan – 6.8 Percent
- FDL PLUS Loan – 7.9 Percent
- For all Direct Subsidized Loans and Direct Unsubsidized Loans that are first disbursed on or after July 1, 2008 and before July 1, 2009 the origination fee is 2.0 percent.
- The Direct PLUS Loan origination fee is not changing and will remain at 4 percent for Direct PLUS Loans made to both parent and graduate/professional student borrowers.
- The up-front interest rebate amount is not changing and will remain at 1.5 percent for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Plus Loans.
- Entrance and Exit Counseling Requirements
First time borrowers will receive an in-person loan counseling before the delivery of first disbursement. They also will receive an in-person exit counseling before the students ceases enrollment. If a student withdraws or fails to attend the exit interview, we will mail written material to them within 30 days.
Resource Online:- Federal Student Aid (FSA) Website
- Free Application For Ferderal Student Aid (FAFSA)
- Ferderal Student Aid (FSA) Guide 2004-2005
- Student Loans
ENTRANCEAND EXIT COUNSELING REQUIREMENTS
First time borrowers will receive an in-person loan counseling before the delivery of first disbursement. They also will receive an in-person exit counseling before the students ceases enrollment. If a student withdraws or fails to attend the exit interview, we will mail written material to them within 30 days.
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