The Federal Direct Loan (Stafford) program is available to graduate students.

As of July 1, 2012, subsidized loans will no longer be available to graduate students.

Subsidized loans are awarded on the basis of financial need. Interest is not charged before you begin repayment or during authorized periods of deferment.

• For loans originated prior to July 1, 2006, the interest rate could change each year of repayment, but by law, it cannot exceed 8.25%. The interest rate is adjusted each year on July 1
• For subsidized loans originated on or after July 1, 2006, the interest rate is fixed at 6.8%.

Unsubsidized loans are not awarded on the basis of need. Interest is charged from the time the loan is disbursed until it is paid in full. Interest may be capitalized.

• For unsubsidized loans originated on or after July 1, 2006, the interest rate is fixed at 6.8%.

Other terms of both Subsidized and Unsubsidzed Federal Direct Loans (Stafford):

• As of July 1, 2013, the loan fee is 1.051% of the loan, subject to change. This fee is deducted proportionately each time a loan disbursement is made.
• As of July 1, 2012, the loan fee is 1% of the loan, subject to change. This fee is deducted proportionately each time a loan disbursement is made.
• Graduate students may borrow up to $20500 each academic year.
• Maximum aggregate limit is $138500 combined undergraduate and graduate loans (no more than $65500 in subsidized).
• As of July 1, 2008, the loan fee is net 0.5% of the loan, subject to change. This fee is deducted proportionately each time a loan disbursement is made.
• If you are borrowing under the Direct Loan program for the first time at UW-Superior, you will need to complete a Master Promissory Note and Entrance Counseling.
• Repayment begins 6 months after you graduate, leave school, or drop below half-time enrollment. Four repayment plans are available.
• Direct Loan has a forgiveness/cancellation provision available to students under certain circumstances. This information is found in the Student Guide.
• Additional information on the Direct Loan (Stafford) program is available in the Student Guide.
• Direct Loans may be serviced by one of nine service centers. It is the goal of the Department of Education that all of your Direct Loans will have the same servicer. To find out who is servicing your loan(s), please log onto the National Student Loan Data System (NSLDS) and view the individual loan(s). Each will list the servicer with their customer service contact information. Customer Service Centers include Direct Loan Servicing (ACS), Great Lakes, Nelnet, Fedloan (PHEAA), Sallie Mae, CornerStone, ESA/Edfinancial, Aspire, and MOHELA.