Financial Aid

Student Loans

What's NEW for 2015-2016?

Direct Loan Interest Rates for 2015-2016

The interest rates for Direct Subsidized Loans and Direct Unsubsidized Loans are shown in the chart below.

Loan Type

Borrower Type

Loans first disbursed on or after 7/1/14 and before 7/1/15

Loans first disbursed on or after 7/1/15 and before 7/1/16

Direct Subsidized Loans

Undergraduate

4.66%

4.29%

Direct Unsubsidized Loans

Undergraduate Students

4.66%

4.29%

Direct PLUS
Loans

Parents and Graduate or Professional Students

7.21%

6.84%

Subsidized Loan Limitation – A maximum of three years of subsidized loan eligibility has been implemented for two-year associate degrees and for one and a half years for students in one-year certificate programs for "new borrowers" on or after July 1, 2013.

Direct Loan Fees

The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. The percentage varies depending on when the loan is first disbursed, as shown in the chart below.

Loan Fees for Direct Subsidized Loans and Direct Unsubsidized Loans

First Disbursement Date Loan Fee

Loan Fee

On or after Oct. 1, 2014, and before Oct. 1, 2015

 1.073%

On or after Oct. 1, 2015, and before Oct. 1, 2016

1.068%

Loan Fees for Direct PLUS Loans

On or after Oct. 1, 2014, and before Oct. 1, 2015

4.292%

On or after Oct. 1, 2015, and before Oct. 1, 2016

4.272%

 

Subsidized Loan Limitation – A maximum of three years of subsidized loan eligibility has been implemented for two-year associate degrees and for one and a half years for students in one-year certificate programs for "new borrowers" on or after July 1, 2013.

UNDERSTANDING REPAYMENT

https://studentaid.ed.gov/repay-loans/understand/plans

https://studentloans.gov/myDirectLoan/whatYouNeed.action?page=repayEst

Questions? Contact the Financial Aid staff at (501) 882-8845 or email finaid@asub.edu.

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