Federal Direct Graduate Unsubsidized Loan
The interest rate is a variable rate, adjusted annually. Currently, unsubsidized loans disbursed on or after 7/1/14 and before 7/1/15 have an interest rate of 4.66%. The loan is subject to a 1.073% origination fee and insurance fee. These fees will be subtracted from the amount that is actually credited to the students college account; however, the student is responsible for repayment of the full amount borrowed.
The student is responsible for interest payments while in school and during deferment periods. The accrued interest may be paid or capitalized, that is, the interest which should be paid can be the original amount of the loan.
Federal Direct Graduate Plus Loan
Students should speak to their financial aid counselor regarding this loan if they wish to include it in their award package. More information can be found at studentloans.gov.