The Federal Direct Unsubsidized Stafford Loan is a federal loan borrowed directly from the US Department of Education that you can use for your educational expenses.
- Award: $20,500 per academic year**
- Disbursements: loan funds are disbursed equally among the semesters you attend to your student account at the beginning of each semester
- Lender: US Department of Education
- Interest rate: Will be set prior to July 1
- The interest rate, once established, will be a fixed rate for the life of the loan.
- For All loans 1st disbursed between 7/1/21 through 6/30/22 the fixed interest rate is 5.28%.
- For All loans 1st disbursed between 7/1/22 through 6/30/23 the expected fixed interest rate is 6.54%.
- The interest accrues once loan funds are disbursed, however principal and interest can be deferred while enrolled on at least a half-time basis in a degree-seeking program.
- Fees: An origination fee will be deducted from the gross amount of loan borrowed from each disbursement.
- For loans first disbursed on or after 10/1/20 the fee is 1.057%
- Aggregate Loan Limit: $138,500, which includes amounts borrowed as an undergraduate
- Grace period: 6 months after you graduate, leave school, or drop below half-time status
- Repayment period: 10 to 25 years depending on one of the many repayment plans you can select
- Estimated Repayment Calculator
**Borrower Based Loan
If you choose to take courses during the summer session and enroll in at least a half-time status, you may be eligible to borrow the Direct Unsubsidized Loan during the summer, which is referred to as a Borrower Based Direct Loan.
**Please note that if the full Borrower Based Direct Unsubsidized Loan is borrowed in the Spring semester, eligibility for the Summer semester would be exhausted. Students receive an e-mail from the Office of Financial Assistance's Loan Department to confirm their Spring request.
While the maximum amount you can borrow is $20,500, we encourage you to borrow only the amount that you will need to finance your program. You will need to indicate the amount of Direct Unsubsidized Loan that you wish to borrow for each semester on the Villanova University Graduate Institutional Financial Aid Application, again noting that the Direct Loan must be certified in equal amounts for each semester.
Borrower Based Loan | Maximum |
---|---|
Summer 2022/Fall 2022 (2022-2023 Academic Year) |
$20,500 |
Spring 2023 (2023-2024 Academic Year) |
$10,250* *if the full amount fits within your cost of attendance |
**Please note that if the full Borrower Based Direct Unsubsidized Loan is borrowed in the Spring semester, eligibility for the Summer semester would be exhausted. Students receive an e-mail from the Office of Financial Assistance's Loan Department to confirm their Spring request.
While the maximum amount you can borrow is $20,500, we encourage you to borrow only the amount that you will need to finance your program. You will need to indicate the amount of Direct Unsubsidized Loan that you wish to borrow for each semester on the Villanova University Graduate Institutional Financial Aid Application, again noting that the Direct Loan must be certified in equal amounts for each semester.