Federal Direct Loan Program

Program Name
Program Detail
How to Apply

Federal Direct Subsidized Loan

For undegraduate students

Loan must be repaid.

This is a need-based loan available to undergraduate students who are enrolled at least half-time (6 credits per semester) in an eligible program leading to a degree or certificate.

Interest begins accruing once you graduate or drop below six credits. As of July 1, 2012 subsidized Federal Direct loans issued in 2012-13 will accrue interest during the six-month "grace period" after students leave school.

Interest rates for Federal Direct Subsidized loans disbursed after July 1,2013 and before July 1, 2014 will be 3.86% for undergraduate students.

Interest rates for Federal Direct Subsidized loans disbursed after July 1,2014 and before July 1, 2015 will be 4.66% for undergraduate students.

  • This loan has an origination fee of 1.072% if disbursed on or after December 1, 2013 and before September 30, 2014.

Repayment begins 6 months after you graduate or are no longer enrolled for 6 or more credits. Payments are made directly to your loan servicer. To locate your servicer log onto The National Student Loan Data System.

1. File a FAFSA.

2. Accept the offered loan in your financial aid award package on the Solar System.

3. If you are a first time Direct Loan borrower, complete the Federal Direct Loan Master Promissory Note (MPN) on-line at www.studentloans.gov.

4. First time Direct Loan borrowers at Stony Brook must also complete entrance counseling on-line at www.studentloans.gov.

 

Federal Direct Unsubsidized Loan

For undergraduate and graduate students

Loan must be repaid.

This loan is available to undergraduate and graduate students who are enrolled at least half-time (6 credits per semester) in an eligible program leading to a degree or certificate.

Financial need is NOT a requirement.

The federal government does NOT pay the interest on this loan while you are in school; instead, you are responsible for the interest during the life of the loan. You can choose to pay the interest or allow it to accrue (accumulate) and be capitalized (that is, added to the principal amount of your loan). Capitalizing the interest will increase the amount you have to repay.

Interest rates for Federal Direct Unsubsidized loans disbursed after July 1, 2013 and before July 1, 2014 will be 3.86% for undergraduate students

Interest rates for Federal Direct Unsubsidized loans disbursed after July 1, 2014 and before July 1, 2015 will be 4.66% for undergraduate students

Interest rates for Federal Direct Unsubsidized loans disbursed after July 1, 2013 and before July 1, 2014 will be 5.41% for graduate students

Interest rates for Federal Direct Unsubsidized loans disbursed after July 1, 2014 and before July 1, 2015 will be 6.21% for graduate students

  • This loan has an origination fee of 1.051% if disbursed on or after July 1, 2013 and before November 30, 2013.
  • This loan has an origination fee of 1.072% if disbursed on or after December 1, 2013 and before September 30, 2014.

Repayment begins 6 months after you graduate or are no longer enrolled for 6 or more credits. Payments are made directly to your loan servicer. To locate your servicer log onto The National Student Loan Data System.

1. File a FAFSA.

2. Accept the offered loan in your financial aid award package on the Solar System.

3. If you are a first time Direct Loan borrower, complete the Federal Direct Loan Master Promissory Note (MPN) on-line at www.studentloans.gov.

4. First time Direct Loan borrowers at Stony Brook must also complete entrance counseling on-line at www.studentloans.gov.

Federal Direct Parent PLUS Loan for Undergraduate Students

Loan must be repaid.

This credit-based federal loan is available to parents of dependent undergraduate students who are enrolled at least half-time (6 credits per semester) in an eligible program leading to a degree or certificate.

Interest rates for Federal Direct Parent PLUS loans after July 1, 2013 and before July 1, 2014 will be 6.41%.

Interest rates for Federal Direct Parent PLUS loans after July 1, 2014 and before July 1, 2015 will be 7.21%.

The annual loan limit is the student's cost of attendance minus any anticipated financial aid.

  • This loan has an origination fee of 4.292%

Repayment begins 60 days after final loan disbursement unless a deferment is granted through the Direct Loan Servicer.

1. Student must file a FAFSA.


2. Parent must submit a Federal Direct Parent PLUS Loan Request Form (available on our forms page after May 1) to the Office of Financial Aid and Scholarship Services.

In an effort to help you calculate your total loan request amount it is highly recommended that you receive your initial University bill prior to submitting the request form.

3. A credit check will be performed by the Department of Education’s Direct Loan Processor. Written notification of your credit check result will be sent to you.

4. If credit is approved and this is your first time borrowing a Federal Direct PLUS loan, complete the Federal Direct PLUS Loan Master Promissory Note (MPN) online at www.studentloans.gov.

5. If credit is denied there are other options available, please visit our parent web page for more information on the Parent Loan process.

Federal Direct Graduate/
Professional PLUS Loan

 

Loan must be repaid.

This credit-based federal loan is available to graduate/professional students who are enrolled at least half-time (6 credits per semester) in an eligible program leading to a degree or certificate and who have applied for the annual maximum loan eligibility under the Direct Federal subsidized and unsubsidized Loan Programs.

Interest rates for Federal Direct Graduate PLUS loans after July 1, 2013 and before July 1, 2014 will be 6.41%.

Interest rates for Federal Direct Parent PLUS loans after July 1, 2014 and before July 1, 2015 will be 7.21%.

The annual loan limit is the student's cost of attendance minus any anticipated financial aid.

  • This loan has an origination fee of 4.204% if disbursed on or after July 1, 2013 and before November 30, 2013.
  • This loan has an origination fee of 4.288% if disbursed on or after December 1, 2013 and before September 30, 2014.
Repayment begins 60 days after final loan disbursement unless a deferment is granted through the Direct Loan Servicer.

1. File a FAFSA.

2. Accept the offered loan in your financial aid award package on the Solar System.*

3. If you are a first time Direct PLUS Loan borrower, complete the Federal Direct Loan Master Promissory Note (MPN) for Graduate PLUS on-line at www.studentloans.gov.


4. First time Direct Grad PLUS loan borrowers at Stony Brook must also complete entrance counseling on-line at www.studentloans.gov.

*Note: Borrowers are subject to an approved credit check by the U.S. Department of Education.

Annual Direct Loan Limits
Dependent Students
Combined Subsidized and Unsubsidized Loan Limits
Additional Unsubsidized Loan Limits
Total Federal Loan Limits
1st Year
$3,500
$2,000
$5,500
2nd Year
$4,500
$2,000
$6,500
3rd/4th Year
$5,500
$2,000
$7,500
Independent Students and Dependent Students Whose Parents Cannot Borrow a PLUS Loan
Combined Subsidized and Unsubsidized Loan Limits
Additional Unsubsidized Loan Limits
Total Federal Loan Limits
1st Year
$3,500
$6,000
$9,500
2nd Year
$4,500
$6,000
$10,500
3rd/4th Year
$5,500
$7,000
$12,500
Graduate and Professional Students
Unsubsidized Loan Limits
Total Federal Loan Limits

Loan start date on or after

July 1, 2012

$20,500
$20,500
Aggregate Direct Loan Limits (Total Cumulative Loan Amounts)
Undergraduate Dependent Students $31,000 - no more than $23,000 of which can be subsidized
Undergraduate Independent Students $57,500 - no more than $23,000 of which can be subsidized
Graduate and Professional Students $138,500 - no more than $65,500 of which can be subsidized