Santa Clara University

Federal Direct Loan - Graduate Students

With the William D. Ford Federal Direct Loans, you borrow directly from the federal government to help cover your educational expenses.

Federal Direct Loans

Federal Direct Loan - Unsubsidized
You are responsible for paying the interest on your loan. You may begin paying the interest while you are still in school or add the interest to the total amount of your loan, which you will begin repayment after your six-month grace period. The Federal Direct Loan- unsubsidized grace period begins when you are enroll less than half-time, graduate or withdraw from classes.

  • Non need-based
  • Must be enrolled at least half-time
  • 2013-14: 5.41% fixed-variable interest rate, capped at 9.5%
  • 2013-14: 1.051% origination fee, 1.072% origination fee
  • 6-month grace period
  • FAFSA required annually
  • Must complete Entrance Counseling & a Master Promissory Note (MPN)
  • Must meet satisfactory academic progress

NOTE: With the passage of the Budget Control Act, the Federal Direct Loan for which the first disbursement was made on or after July 1, 2013, but before December 1, 2013, the origination fee is 1.051%. As of October 1, 2013, the Federal Direct Loan for which the first disbursement is made on or after December 1, 2013, the origination fee is 1.072%.

Applying for a Federal Direct Loan

When you apply for financial aid, you will automatically be considered for one of this loan. If you have not previously borrowed through the Federal Direct Loan program, you must complete an entrance counseling tutorial online and complete a Master Promissory Note (MPN) online before funds can be disbursed to your student account. If you have completed a MPN at a Direct Lending institution within the last ten years, you do not need to submit another MPN.

Loan Limits

Annual Graduate Students Loan Limit $20,500
Annual Certificate Students Loan Limit $12,500
Lifetime Graduate Aggregate Loan Limit $138,500
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