Federal Student Loans
The following Direct Loans are made through the William D. Ford Federal Direct Loan (Direct Loan) Program, which is administered by the U.S. Department of Education.
Direct Subsidized Loans
Interest is not charged while you are in school at least half-time, during your grace period or during deferment periods. To receive a Direct Subsidized Loan, you must have financial need. Your school will determine if you are eligible for a Direct Subsidized Loan.
Direct Unsubsidized Loans
Interest is charged during all periods, including while you are in school and during grace and deferment periods.
Direct PLUS Loans
Unsubsidized Loans for parents of dependent students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.
Direct Consolidation Loans
Loans for students or parents. Borrowers can combine different federal student loans into one loan.
How much can I borrow?
The tables below shows the maximum amount you can borrow each academic year and in total, based on your dependency status and grade level. Whether you are considered dependent or independent is based on your age, marital status and other factors. Your school can tell you your dependency status.
The actual loan amounts and types of loan (subsidized, unsubsidized or a combination of both) that you are eligible to receive each year are determined by your school, based on such factors as your cost of attendance, Expected Family contribution, other financial aid and the length of your program. The actual amounts you are eligible to borrow may be less than the maximum amounts shown below.
| Annual Loan Limits for Direct Subsidized Loans and Direct Unsubsidized Loans |
||
|---|---|---|
| Subsidized loan | Unsubsidized loan | |
| dependant student with 0-30 earned credits |
$3,500 | $2,000 |
| independent student with 0-30 earned credits |
$3,500 | $6,000 |
| dependant student with 31 or more earned credits |
$4,500 | $2,000 |
| independent student with 31 or more earned credits |
$4,500 | $6,000 |
| Aggregate Loan Limits: maximum total outstanding loan debt |
|
|---|---|
| Dependent undergraduate students | $31,000 (maximum $23,000 subsidized) |
| Independent undergraduate students | $57,500 (maximum $23,000 subsidized) |
Resources for more information
For information about Direct Loans:
Direct Loans on the Web: www.direct.ed.gov
For information about everything related to Direct Loan repayment:
Borrower Services at the Direct Loan Servicing Center
1-800-848-0979 (TTY 1-800-848-0983)
Direct Loan Servicing online:
www.dl.ed.gov
For everything you need to know about Direct Consolidation Loans, including an online application:
Direct Loan Consolidation Center
1-800-557-7392 (TTY 1-800-557-7395)
Direct Loan consolidation web site: www.loanconsolidation.ed.gov
Track your outstanding federal student loans:
National Student Loan Data System (NSLDS) web site: www.NSLDS.ed.gov
Note: NSLDS only tracks federal student loans: you will need to track any private education loans you may have using your own records.
The Department of Education has bought all the student loans from the lenders that went out of the student loan business. Students who are having trouble finding who they need to talk to and how to make payments can contact the Department of Education.
Contact Information-Department of Education Student Loan Servicer:
Toll free phone: 800-508-1378
Address for mailing payments:
DESLS
P.O. Box 9001561
Louisville, KY 40290-1561
Address for non-payment correspondence:
DESLS
Attention: Customer Service Department
P.O. Box 7063
Utica, NY 13504-7063
