Loan Details

Loan Details

Subsidized/Unsubsidized Direct Academic Loans

Federal Direct Loans are loans for undergraduate, graduate and expert degree pupils.

There are two main forms of Direct Loans: Subsidized and Unsubsidized. You really need to have need that is financial get a Subsidized Direct Loan. Economic need just isn’t a requirement to acquire an Unsubsidized Direct Loan. The U.S. Department of Education can pay the attention that accrues on Subsidized Direct Loans during particular durations. The time limits regarding the interest that is subsidized can be seen right right here.

Eligibility

    Must certanly be undergraduate, graduate, or student that is professional at least half time being a degree-seeking student. Note: Graduate and expert pupils are not qualified to receive the Subs
    Federal Direct Loan Limits – Purdue University 2019-20

Year / Classification

Total Annual Level

Level Restriction

Optimum Subsidized Amount

Determine Annual

Unsubsidized Eligibility

Rate of interest for

Loans Disbursed Between

7/1/19 – 6/30/20

Aggregate Limits Dependent Undergraduate Pupils Freshman $5,500 $3,500 = $5,500 – Granted Sub Amount 4.529%

(a maximum of $23,000 could be subsidized)

Sophomore $6,500 $4,500 = $6,500 – Granted Sub Amount 4.529% Junior or Senior $7,500 $5,500 = $7,500 – granted Sub Amount 4.529%

Independent students that are undergraduate

Freshman $9,500 $3,500 = $9,500 – Granted Sub Amount 4.529%

(only $23,000 is subsidized)

Sophomore $10,500 $4,500 = $10,500 – Granted Sub Amount 4.529% Junior or Senior $12,500 $5,500 = $12,500 – granted Sub Amount 4.529% Graduate and Professional Students Are Not Eligible for Subsidized Loans Graduate pupils $20,500 $0 $20,500 6.079percent $138,500 Pharmacy Professional Students Pharmacy P1, P2, & P3 $0 $33,000 6.079per cent

Relates to all DP & VM students

Pharmacy P4 2 2 BBAY ($33,000) $0 $33,000 6.079% Vet Med pro Vet Med P1, P2, & P3 $40,500 (9 mo) $0 $40,500 6.079percent Vet Med P4 3
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