Federal Loan Types

There are three Federal Direct Student Loan options available: Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans.


A fourth loan variety, the Perkins Loan Program, offered assistance to students with exceptional financial need. While current Perkins Loans are still being serviced, new Perkins Loans are no longer offered.


Direct Subsidized Loans

Direct Unsubsidized Loans

Direct PLUS Loans


• Undergraduate students who demonstrate financial need • Undergraduate, graduate, and professional students, regardless of financial need • Graduate students and parents of dependent undergraduate students

Interest (for loans initiated after July 1, 2017)

• 4.45%
• Does not accrue while the student is in school at least half-time
• 4.45% for undergraduate students
• 6% for graduate and professional students
• Accrues while the student is school
• 7%
• Accrues while the student is in school

Grace Period

• Six months • Six months • None