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Direct Unsubsidized: Unlike Subsidized loans, these federal loans do not require students to demonstrate financial need and they are responsible for paying interest on the loan during all periods. If the student chooses not to pay the interest while in school, the interest will accumulate and be added to the principal.
Aid for these students is primarily loans. The William D. Ford Federal Direct Loan (Direct Loan) Program: Eligible students may borrow up to $20,500 per school year. These loans are unsubsidized; Congress has determined that subsidized loans (no interest while enrolled) are only available to undergraduates.
Direct Subsidized Loans: These are available for undergraduate students with financial need, and they cover all accrued interest while you’re in school and during deferment and grace periods.
All federal loans will have “Direct” in their names, like “Direct Subsidized Loan,” “Direct PLUS Loan” or “Direct Consolidation Loan,” for example. For PLUS Loans, you might see ...
Direct Subsidized Loan. Direct Unsubsidized Loan. Direct PLUS Loan. Private student loan. Type. Federal. Federal. Federal. Private. Interest rate. 6.53% (2024-25)
Federal student loan interest rates are fixed for the life of the loan; however, the rates for new loans will change annually, based on the current market. The interest rates for the 2013–2014 academic year are as follows: 3.86% for undergraduate Stafford Loans (both subsidized and unsubsidized) 5.41% for graduate Stafford Loans [6]
Direct Subsidized Loan. $3,500 to $5,500 per year, depending on year in school. Undergraduate students with financial need. Direct Unsubsidized Loan.
A government-backed loan is a loan subsidized by the government, also known in the United States as a Federal Direct Loan, which protects lenders against defaults on payments, thus making it a lot easier for lenders to offer potential borrowers lower interest rates.