For a better experience, click the Compatibility Mode icon above to turn off Compatibility Mode, which is only for viewing older websites.

Federal Direct Loan Programs for Students

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

Undergraduate Direct Loans

Eligibility Requirements

  • U.S. Citizen or permanent resident
  • Enrolled at least half-time in degree program
  • Not in default on prior education loan

Annual Loan Limits

Grade Level 

Annual Maximums for Dependent Students 

Annual Maximums for Independent Students 

Maximum Amount that can be subsidized 

Freshmen  $5,500.00  $9,500.00  $3,500.00 
Sophomore  $6,500.00  $10,500.00  $4,500.00 
Pre-Junior(Drexel only)/Junior  $7,500.00  $12,500.00  $5,500.00 
Senior  $7,500.00 $12,500.00  $5,500.00 
Aggregate Amount  $31,000.00  $57,500.00  $23,000.00 
Post Bacs      $5,500.00  $12,500.00  $5,500.00 

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

Interest Rate Please see Federal Direct Loan Interest Rates page
Fees

1.05% origination fee for loans with a first disbursement between July 1, 2013 and November 30, 2013

1.072% origination fee for loans with a first disbursement on or after December 1, 2013

Source U.S. Department of Education
 

Graduate Direct Unsubsidized Direct Loan

Eligibility Requirements

  • U.S. Citizen or permanent resident
  • Enrolled at least half-time in degree program
  • Not in default on prior education loan

Annual Loan Limits for Unsubsidized Loan

Grade Level 

Limit for Unsubsidized Loans

HEAL Limits  Total 
Graduate and Law $20,500.00 N/A  $20,500.00 
Med Year 1  $20,500.00 $22,222.00 $42,722.00 
Med Year 2  $20,500.00 $24,444.00  $44,944.00 
Med Year 3  $20,500.00 $26,667.00  $47,167.00 
Med Year 4 

$20,500.00

$24,444.00  $44,944.00 
Public Health (9 months)  $20,500.00  $12,500.00  $32,500.00 
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 
  • $138,500.00 Graduate and Law Students
  • $224,000.00 for medical students 
   

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

Interest Rate Please see Federal Direct Loan Interest Rates page
Fees

1.05% origination fee for loans with a first disbursement between July 1, 2013 and November 30, 2013

1.072% origination fee for loans with a first disbursement on or after December 1, 2013

Source U.S. Department of Education
 

Graduate Direct PLUS Loan

Eligibility Requirements

  • U.S. Citizen or permanent resident
  • Be a graduate or professional student
  • Satisfactory credit history (income to debt ratio is not considered)
 Annual Limit Cost of Attendance minus other financial aid you are recieveing
Interest Rate Please see Federal Direct Loan Interest Rates page
Fees 4.204% origination fee for loans with a first disbursement between July 1, 2013 and November 30, 2013

4.288% origination fee for loans with a first disbursement on or after December 1, 2013

Source U.S. Department of Education

Please note that in order to be considered for a graduate PLUS Loan, you must apply on-line at www.studentloans.gov.