Direct Loans
The William D. Ford Federal Direct Loan Program (Direct Loan Program) is a low interest loan program provided by the U.S. Department of Education that allows eligible students and parents to borrow money to assist with educational expenses. The Direct Loan Program consists of the Direct Stafford Loan, Direct Parent PLUS Loan, and the Direct Graduate PLUS Loan.
Direct Subsidized Stafford Loan
Direct Subsidized Stafford Loans are awarded only to eligible undergraduate students based on financial need. Interest is paid by the U.S. Department of Education as long as the student is enrolled at least half-time at ECU.
Direct Unsubsidized Stafford Loan
Direct Unsubsidized Stafford Loans are awarded to eligible undergraduate, graduate, professional, medical, and dental students regardless of financial need. Interest begins accruing from the date of disbursement, however, students who decide to make interest payments while in school can avoid capitalization of interest. When interest is capitalized, it is added to the principal amount of the loan.
Direct Stafford Loan Academic Year and Aggregate Loan Limits
There are limits on the maximum amount of Direct Stafford Loan you are eligible to receive each academic year (annual loan limit) and in total (aggregate loan limit). The amount you are eligible to receive will depend on your student type (undergraduate, graduate, professional, medical, or dental).
The following charts provide the annual maximum and aggregate loan limit for your student type.
Undergraduate Student Annual Loan Limit
| Classification | Dependent Undergraduate | Independent Undergraduate |
|---|---|---|
| Freshman (1-29 earned credits) | $5,500 – no more than $3500 may be in Direct Subsidized | $9,500 – no more than $3500 may be in Direct Subsidized |
| Sophomore (30-59 earned credits) | $6,500 – no more than $4500 may be in Direct Subsidized | $10,500 – no more than $4500 may be in Direct Subsidized |
| Junior (60-89 earned credits) | $7,500 – no more than $5500 may be in Direct Subsidized | $12,500 – no more than $5500 may be in Direct Subsidized |
| Senior (90+ earned credits) | $7,500 – no more than $5500 may be in Direct Subsidized | $12,500 – no more than $5500 may be in Direct Subsidized |
Dependent Undergraduate Aggregate Loan Limit
The maximum aggregate loan amount a Dependent Undergraduate Student may borrow is $31,000 (no more than $23,000 can be Direct Subsidized Loan). This includes all Stafford loans received for undergraduate study.
Independent Undergraduate Aggregate Loan Limit
The maximum aggregate loan amount an Independent Undergraduate Student may borrow is $57,500 (no more than $23,000 can be Direct Subsidized Loan). This includes all Stafford loans received for undergraduate study.
Graduate or Professional Student Annual Loan Limit
| Classification | Academic Year Limit |
|---|---|
| Graduate & Professional | $20,500 Direct Unsubsidized |
Graduate & Professional Aggregate Loan Limit
The maximum aggregate loan amount a Graduate or Professional Student may borrow is $138,500 in Direct Unsubsidized Stafford Loans. This includes all Stafford loans received for undergraduate study.
Medical Student Annual Loan Limit
| Classification | Academic Year Limit |
|---|---|
| Medical | $38,500 Direct Unsubsidized |
Medial Student Aggregate Loan Limit
The maximum aggregate loan amount a Medical Student may borrow is $224,000 in Direct Unsubsidized Stafford Loans. This includes all Stafford loans received for undergraduate study
Dental Student Annual Loan Limit
| Classification | Academic Year Limit |
|---|---|
| Dental | $38,500 Direct Unsubsidized |
Dental Student Aggregate Loan Limit
The maximum aggregate loan amount a Medical or Dental Student may borrow is $224,000 in Direct Unsubsidized Stafford Loans. This includes all Stafford loans received for undergraduate study.