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Subsidized/Unsubsidized Direct Educational Loans

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

There are two forms of Direct Loans: Subsidized and Unsubsidized. You really must have economic need certainly to be given a Subsidized Direct Loan. Monetary need is certainly not a necessity to get an Unsubsidized Direct Loan. The U.S. Department of Education will probably pay the attention that accrues on Subsidized Direct Loans during particular durations. The time limits regarding the interest that is subsidized is found right here.

Eligibility

    Must certanly be undergraduate, graduate, or student that is professional at least half time being a degree-seeking pupil. Note: Graduate and students that are professional not any longer qualified to receive the Subs
    Federal Direct Loan click Limits – Purdue University 2019-20

Year / Classification

Total Annual Level

Level Limitation

Optimum Subsidized Amount

Determine Annual

Unsubsidized Eligibility

Rate of interest for

Loans Disbursed Between

7/1/19 – 6/30/20

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

(a maximum of $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%

(only $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 Eligible for Subsidized Loans Graduate pupils $20,500 $0 $20,500 6.079% $138,500 Pharmacy Pro Students Pharmacy P1, P2, & P3 $0 $33,000 6.079per cent

Relates to all DP & VM pupils

Pharmacy P4 2 2 BBAY ($33,000) $0 $33,000 6.079% Vet Med expert Vet Med P1, P2, & P3 $40,500 (9 mo) $0 $40,500 6.079% Vet Med P4 3
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