Students who are first-time borrowers of the Federal Direct Stafford Loans, must complete an electronic Master Promissory Note (MPN) and on-line Entrance Loan Counseling to receive the funds. In most cases, the student will be required to complete the MPN and entrance counseling session only once during their years in college. Each year students will need to accept their loan(s) on the Student Loan Confirmation page in MyUI.

Obtain information regarding grace periods and repayment plans from the Federal Student Aid web site.

Lender:  Federal Government

Interest Rate - Undergraduate Students

  • Fixed at 4.45% for loans disbursed July 1, 2017 - June 30, 2018
  • Fixed at 3.76% for loans disbursed July 1 , 2016 - June 30, 2017
  • Fixed at 4.29% for loans disbursed July 1, 2015 - June 30, 2016
  • Fixed at 4.66% for loans disbursed July 1 , 2014 - June 30, 2015
  • Fixed at 3.86% for loans disbursed July 1, 2013 - June 30, 2014

Interest Rate - Graduate Students:

  • Fixed at 6.00% for loans disbursed July 1, 2017 - June 30, 2018
  • Fixed at 5.31% for loans disbursed July 1, 2016 - June 30, 2017
  • Fixed at 5.84% for loans disbursed July 1, 2015 - June 30, 2016
  • Fixed at 6.21% for loans disbursed July 1, 2014 - June 30, 2015
  • Fixed at 5.41% for loans disbursed July 1, 2013 - June 30, 2014

Interest Rate Cap - For loans disbursed on or after July 1, 2013:

  • 8.25% for undergraduate students
  • 9.50% for graduate students

Interest Free in School:  No

Loan Fee

  • 1.069% for loans disbursed October 1, 2016 through September 30, 2017
  • 1.068% for loans disbursed October 1, 2015 - September 30, 2016
  • 1.073% for loans disbursed October 1, 2014 - September 30, 2015
  • 1.072% for loans disbursed December 1, 2013 - September 30, 2014
  • 1.051% for loans disbursed July 1, 2013  - November 30, 2013
  • 1.0% for loans July 1, 2010 - June 30, 2013
  • 1.5% for loans disbursed July 1, 2009 - June 30, 2010

Annual Maximums - Dependent Student (Includes amount of Subsidized Stafford Loan):
(If you change grade levels mid-year, you may be eligible for an increase in your loan amount.)

  • $5,500 freshman (0-29 earned hours)
  • $6,500 sophomore (30-59 earned hours)
  • $7,500 junior and senior (60+ earned hours)

Annual Maximums - Self-Supporting Student (Includes amount of Subsidized Stafford Loan):
(If you change grade levels mid-year, you may be eligible for an increase in your loan amount.)

  • $9,500 freshman (0-29 earned hours)
  • $10,500 sophomore (30-59 earned hours)
  • $12,500 junior and senior (60+ earned hours)
  • $20,500 graduate and professional

Cumulative Maximums

  • $31,000 undergraduate*
  • $57,500 self-supporting undergraduate*
  • $138,500 graduate and professional (includes amount borrowed as undergraduate)**

Grace Period:  6 months

  *No more than $23,000 of this amount may be in subsidized loans.
**No more than $65,500 of this amount may be in subsidized loans.

Additional information on Federal Direct Loans is available on the U.S. Department of Education website.