Eligibility for U.S. federal student loans is determined based on information contained in the student’s Student Aid Report (SAR), which is a product of the FAFSA. Fundamentals for eligibility are:
Enrollment in an eligible school at least half-time
U.S. citizen, national, permanent resident or eligible non-citizen status
Satisfaction of Selective Service requirements
No unresolved defaults or overpayments owing on Title IV educational loans and grants
Direct Unsubsidized Loans
Qualified students may borrow a maximum of $20,500 per academic year (two semesters). Interest accrues over the life of the loan and, together with the principal, can be deferred until the student ceases to be enrolled at least half-time and the grace period expires.
Direct Graduate Plus
This credit-based federally sponsored education loan is set at a fixed interest rate. It can be used to finance up to 100% of a student’s cost of attendance, less other financial aid received, i.e. Unsub loans and scholarships.