Direct Loans (previously known as Stafford Loans) are offered directly through the Department of Education to students who are enrolled at least half time and pursing a degree.

Eligibility

You must complete the Free Application for Federal Student Aid (FAFSA) to be eligible for an Unsubsidized Direct Loan.

Unsubsidized loans are not based on need. You are responsible for all the interest that accrues. You can choose to pay the interest while you’re in school or have the accrued interest added to your loan when you enter repayment. Subsidized loans are no longer available for graduate students after 7/1/2012.

Interest Rates

Direct Unsubsidized Loans for graduate students have a fixed interest rate of 6.8% for the life of the loan.

Loan Fees

What is a loan fee? It’s what you pay the lender to help cover the cost of processing your loan. It is typically calculated as a percentage of the amount you’re borrowing.

The fee for Direct Unsubsidized Loans is 1.051% after 7/1/2013.

Maximum Amounts

• Annual loan limit is $20,500 for graduate students.
• Cumulative maximum limit for subsidized and unsubsidized loans upon graduation is $138,500. The cumulative limit includes subsidized and unsubsidized loans received for undergraduate study.

How to Apply

1. Follow the steps to apply for financial aid.
2. Bethel will send you a financial aid award notifying you of loan eligibility.
3. If you're eligible, make sure you process your loan at least 1 month before you start classes.

More About Direct Loans

For more on Direct Loans, check out information from the U.S. Department of Education:

• Repayment
• Interest rates and calculators
• Deferment and forbearance
• Cancellation and consolidation