Graduate Federal Direct Student Loan Program
The Federal Direct Unsubsidized Student Loan Program is a non-need based federal student loan providing low-interest, long-term loans to matriculated students enrolled at least half-time for education expenses.
The lender of these loans is the federal government and repayment is to the U.S. Department of Education.
Federal Direct Unsubsidized Student Loan Basics
Application Form
Students must file the Free Application for Federal Student Aid (FAFSA) to be eligible for federal loans.
Requirements
Borrowers must be U.S. citizens or eligible non-citizens, must be enrolled in at least half-time (6 credit hours) during a semester, accepted in a degree-seeking program at St. John Fisher University, and be maintaining satisfactory academic progress for financial aid eligibility.
Interest Rate
Federal Direct Unsubsidized Student Loans disbursed prior to July 1, 2024 will have a fixed interest rate of 7.05%. Federal Direct Unsubsidized Student Loans will have a fixed interest rate of 8.08% for loans with a first disbursement date on or after July 1, 2024. The interest rate will not change throughout the life of the loan. Loans disbursed on or after October 1, 2020 will be charged a 1.057% fee. Interest begins accruing on the Federal Direct Unsubsidized Student Loan once the loan is disbursed. Interest payments can be made or the interest will accrue and be capitalized. Please note: Loan rates and fees are subject to change due to congressional action.
Repayment
The loan can be repaid fully or in part at any time without penalty. In the event that you die or suffer permanent and total disability, the loan is forgiven.
Loan Limits
Maximum Annual Limits
| Maximum Unsubsidized Loan (per year) | |
| Graduate and Professional Students | $20,500 |
| Health Professional (Pharmacy) | $33,000 |
Maximum Lifetime Limits
| Maximum Subsidized and Unsubsidized Loan (per year) | |
| Graduate and Professional Students | $138,500 |
| Health Professional (Pharmacy) | $224,000 |
Apply for a Federal Direct Unsubsidized Student Loan
- Complete the FAFSA.
- Accept the Federal Direct Student Loan offer(s) on Fish 'R' Net.
- FIRST TIME BORROWERS ONLY: Select Log In at Studentaid.gov. Sign In using your FSA ID. Select Loan Entrance Counseling under Loans and Grants. Click Start at I am a Graduate or Professional Student. Once you have successfully completed the Loan Entrance Counseling, complete the Master Promissory Note (MPN) for Subsidized/ Unsubsidized Loans as a Graduate/Professional Student.