Loan Amounts
| Grade Level | Base Loan Amount | Additional Unsubsidized Eligibility for Dependent Students | Additional Unsubsidized Eligibility for Independent Students and Dependent Students |
|---|---|---|---|
| Subsidized and Unsubsidized Loans | (Exclusive of dependent students whose parent(s) is not eligible to borrow a Direct PLUS loan) | (whose parent(s) is not eligible to borrow a Direct PLUS Loan) | |
Freshman year |
$3,500 |
$2,000 |
$4,000 |
Sophomore year |
$4,500 |
$2,000 |
$4,000 |
Junior year |
$5,500 |
$2,000 |
$5,000 |
Senior/5th year |
$5,500 |
$2,000 |
$5,000 |
Graduate |
$8,500 |
|
$12,000 |
Graduate (effective July 1, 2012) |
|
|
$20,500 |
There is a $31,000 total borrowing limit for dependent undergraduate students excluding those whose parents are unable to borrow a Direct PLUS Loan and a $57,500 limit for independent undergraduate students and dependent undergraduates whose parents are unable to borrow a Direct PLUS Loan of which no more than $23,000 may be in Subsidized Loans. Graduate students may borrow a total of $138,500, however, no more than $65,500 of this amount may be in Subsidized loans; includes loans for undergraduate students.
Lender
Direct Loans are funded by the U.S. Department of Education through Villanova University. Under the supervision of the Department of Education, the following servicers are assigned to manage all Direct Loans:
- Aspire Resources Inc. - (855) 475-3335
- CornerStone - (800) 663-1662
- Direct Loan Servicing Center - (800) 848-0979
- ESA/Edfinancial - (855)337-6884
- FedLoan Servicing (PHEAA) - (800) 699-2908
- Granite State – GSMR - (888) 556-0022
- Great Lakes Education Loan Services - (800) 236-4300
- MOHELA - (888) 866-4352
- Nelnet - (888) 486-4722
- Sallie Mae - (800) 722-1300
One-to-two weeks after the first disbursement, students will receive a mailer notifying them of their selected loan servicer.
Interest Rates
| First Disbursement of Subsidized | First Disbursement of Unsubsidized |
| On or after 7/1/2012 | On or after 7/1/2012 |
| 3.4 percent | 6.8 percent |
