William D. Ford Federal Direct Unsubsidized Loans

Unsubsidized loans are available, regardless of financial need. However, interest will begin to accrue upon receipt of your loan funds. You may make repayments while enrolled in school, but if you choose not to pay the interest while you are in school, your interest will accumulate and will be added to the principal amount of your loan. It's to your advantage to make at least the interest payments. Learn the basics here.

Who Can Borrow

Undergraduate, graduate, and professional students and students who are eligible to complete a FAFSA may apply. You must apply every year.

Annual Loan Limits

How much you can borrow is based on your academic year level and cost of education.

When Does Repayment Start

You must start paying back your loan after you graduate, leave school, or drop below half-time enrollment.

Repayment starts after your six-month grace period has ended.

Interest Rates and Fees

Fixed rates are based on first disbursement. You are responsible for payment of the interest while you are enrolled, during the grace period, or periods of deferment. Origination fees are fixed annually and subtracted by the Department of Education prior to disbursing the funds to your Zot Account.

For current interest rates and fees, visit the Student Aid website.

Promissory Note

First-time borrowers must complete a Master Promissory Note (MPN). To find out more, visit the U.S. Department of Education.

Entrance Counseling

First-time borrower must complete an online entrance counseling to ensure that you understand the responsibilities and obligations you are assuming. For information, read more on our Entrance Counseling.

Exit Counseling

Exit counseling is required upon your graduation or leaving school. Exit counseling provides important information to prepare you to repay your loan and to review the repayment choices.

Learn more about Exit counseling.

Repayment Plans

The Department of Education provides several repayment plans. Estimate your repayment and find the right repayment plan for you.

Student Loan Servicer

A loan servicer will be handling your loan. This service is free to you. The U.S. Department of Education will inform you who your servicer will be. It is important that you maintain contact with them as they will assist you with repayment plans and loan consolidation. Learn more about student loan servicers.

More Eligibility Information

Visit the U.S. Department of Education.