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Federal Direct Loan Programs for Students

Depending upon what type of student you are, the Department of Education offers three different types of Federal Direct Loans: Subsidized, Unsubsidized, and PLUS (Graduate and Parent).

Undergraduate Direct Loans

Eligibility Requirements

  • U.S. citizen or permanent resident
  • Enrolled at least half-time in a degree-seeking program
  • Not currently in default on education loan(s)

Annual Loan Limits

Grade Level Dependent Students Annual Maximum Independent Students Annual Maximum Subsidized Maximum Amount
Freshman $5,500.00 $9,500.00 $3,500.00
Sophomore $6,500.00 $10,500.00 $4,500.00
Pre-Junior (Drexel Only) and Junior $7,500.00 $12,500.00 $5,500.00
Senior $7,500.00 $12,500.00 $5,500.00
Post-bac Programs $5,500.00 $12,500.00 $5,500.00
Aggregate Amount $31,000.00 $57,500.00 $23,000.00

Definitions

  • Subsidized Loan – The Department of Education pays the interest on the loan during the student's in-school deferment period; interest does not start to accrue on the loan until the student graduates, drops below part-time status, or withdraws from the University.
  • Unsubsidized Loan – Interest starts to accrue on the loan after it disburses to the student's account.
  • Aggregate Amount – Total amount the student is eligible to receive for his or her degree program.
  • Origination Fee – Most federal student loans have fees that are a percentage of the loan amount. View more information about Origination Fees.

Note: The total annual amount limit may not exceed Drexel's cost of attendance less other financial assistance you receive.

Interest Rate

Learn more about Federal Loan Interest Rates.

Source – U.S. Department of Education

Graduate Direct Unsubsidized Loan

Eligibility Requirements

  • U.S. citizen or permanent resident
  • Enrolled at least half-time in a degree-seeking program
  • Not currently in default on education loan(s)

Annual Loan Limits for Unsubsidized Loans

Grade Level Limit for Unsubsidized Loans HEAL Limit Total
Graduate and Law $20,500.00 N/A $20,500.00
Medical (9 months) $20,500.00 $20,000.00 $40,500.00
Medical (10 months) $20,500.00 $22,222.00 $42,722.00
Medical (11 months) $20,500.00 $24,444.00 $44,944.00
Medical (12 months) $20,500.00 $26,667.00 $47,167.00
Public Health (9 months) $20,500.00 $12,500.00 $33,000.00
Public Health (10 months) $20,500.00 $13,889.00 $34,389.00
Public Health (11 months) $20,500.00 $15,278.00 $35,778.00
Public Health (12 months) $20,500.00 $16,677.00 $37,177.00
Aggregate Loan Limits
  • $135,500.00 - Graduate and Law Students
  • $224,000.00 - Medical Students

Definitions

  • Unsubsidized Loan – Interest starts to accrue on the loan after it disburses to the student's account.
  • Aggregate Amount – Total amount the student is eligible to receive for his or her degree program.
  • Origination Fee – Most federal student loans have fees that are a percentage of the loan amount. View more information about Origination Fees.

Note: The total annual amount limit may not exceed Drexel's cost of attendance less other financial assistance you receive.

Interest Rate

Learn more about Federal Loan Interest Rates.

Source - U.S. Department of Education

Graduate Direct PLUS Loan

Note: In order to be considered for a Graduate PLUS Loan, you must apply online.

Eligibility Requirements

  • U.S. citizen or permanent resident
  • Be a graduate or professional student
  • Satisfactory credit history (credit criteria are determined by the Department of Education)

Annual Loan Limits

Cost of Attendance minus other financial aid you are receiving.

Note: The total annual amount limit may not exceed Drexel's cost of attendance less other financial assistance you receive.

Interest Rate

Learn more about Federal interest rates.

Fees

  • Origination Fee – Most federal student loans have fees that are a percentage of the loan amount. View more information about Origination Fees.

Source - U.S. Department of Education