William D. Ford Federal Direct Loan Program
The Federal Direct Loan Program is administered by the U.S. Department of Education.  Students must complete the Free Application for Federal Student Aid (FAFSA) to participate in this program.  In order to qualify for the Federal Direct Loans student must be a U.S. citizen or permanent resident, enrolled at least half-time (4 units or more) and not be in default on a federal student loan.

Federal Direct Unsubsidized Student Loan

• 6.8% fixed interest rate
• 1.051% origination fee 
• Annual loan limit $20,500
• Repayment begins six months after the student graduates or drops below half-time enrollment. 
• The standard repayment term is 10 years.
• Flexible repayment options such as income based repayment
• Loan forgiveness program
• No prepayment penalty

Federal Direct Graduate PLUS Loan

• 7.9% fixed interest rate
• 4.204% origination fee
• Requires a credit check
• Students can borrow up to the cost of education minus other financial aid. 
• Repayment begins 60 days after the final disbursement.  Borrower can request a deferment until six months after the student graduates. 
• The standard repayment term is 10 years.
• Flexible repayment options such as income based repayment
• Loan forgiveness program
• No prepayment penalty