Federal Direct Loan Program

Direct Loans are available to both undergraduate and postgraduate students. For undergraduate students, they are partly subsidised by the US Government.  Information about the fixed interest rates for these loans can be found at https://studentaid.ed.gov/sa/types/loans/interest-rates . For 2021-2022, these loans have a fixed interest rate set at 3.73% for undergraduate Direct Loans and 6.28% for postgraduate Direct loans.  For 2020-2021, a 1.062% Origination fee will be charged for all Direct loans. The maximum loan amounts differ for dependent undergraduates, independent graduates and graduate/professional students.  There are also aggregate lifetime maximum loan limits. Repayments are deferred whilst you are on the course, and typically begin 6 months after a student ceases to be enrolled at least "half-time".