Loan Details

Loan Details

Subsidized/Unsubsidized Direct Educational Loans

Federal Direct Loans are loans for undergraduate, graduate and expert level pupils.

There’s two forms of Direct Loans: Subsidized and Unsubsidized. You’ll want need that is financial get a Subsidized Direct Loan. Economic need just isn’t a necessity to acquire an Unsubsidized Direct Loan. The U.S. Department of Education will probably pay the attention that accrues on Subsidized Direct Loans during particular durations. The time limits regarding the interest that is subsidized are present right right right here.

Eligibility

    Needs to be undergraduate, graduate, or student that is professional at least half time as a degree-seeking pupil. Note: Graduate and expert pupils are not any longer qualified to receive the Subs

    Federal Direct Loan Limits – Purdue University 2019-20

Year / Classification

Total Annual Grade

Level Limitation

Optimum Subsidized Amount

Determine Annual

Unsubsidized Eligibility

Interest for

Loans Disbursed Between

7/1/19 – 6/30/20

Aggregate Limits Dependent Undergraduate Pupils Freshman $5,500 $3,500 = $5,500 – Granted Sub Amount 4.529%

(a maximum of $23,000 could be subsidized)

Sophomore $6,500 $4,500 = $6,500 – Granted Sub Amount 4.529% Junior or Senior $7,500 $5,500 = $7,500 – granted Sub Amount 4.529%

Independent students that are undergraduate

»

test4368