Loan Details

Loan Details

Subsidized/Unsubsidized Direct Academic Loans

Federal Direct Loans are loans for undergraduate, graduate and degree that is professional.

There are 2 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 necessity to get 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 Subsidized interest subsidy are obtainable here.

Eligibility

    Needs to be undergraduate, graduate, or expert pupil enrolled at least half time as a degree-seeking pupil. Note: Graduate and students that are professional no longer qualified to receive the Subs
    Federal Direct Loan Limits – Purdue University 2019-20

Year / Classification

Total Annual Level

Level Restriction

Maximum Subsidized Amount

Determine Annual

Unsubsidized Eligibility

Rate of interest for

Loans Disbursed Between

7/1/19 – 6/30/20

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

(only $23,000 may 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%

(a maximum of $23,000 could be 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 qualified for Subsidized Loans Graduate pupils $20,500 $0 $20,500 6.079per cent $138,500 Pharmacy Professional Students Pharmacy P1, P2, & P3 $0 $33,000 6.079percent

Relates to all DP & VM pupils

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