/Institutions/Stevens-Institution-of-Technology/json/2022-2023/Academic-Catalog-local.json

/Institutions/Stevens-Institution-of-Technology/json/2022-2023/Academic-Catalog.json

2022-2023 Academic Catalog > Financing a Stevens Education > Undergraduate Student Financial Aid Information > Federal Financial Aid Programs > Subsidized Federal Direct Loans

Subsidized Federal Direct Loans

“Interest free’ while the student is enrolled at least half-time (6 credits). Students are required to begin repayment six months after leaving school or dropping below six credits. The interest rate is fixed each award year and there is a loan fee taken at the time of disbursement. Interest rates are set by Congress and are tied to financial markets. Interest rates for loans made on/afer July 1, 2018 and before July 1, 2019 are 5.05%. There is a 1.062% loan fee. New borrowers as of July 1, 2013 may not receive Direct Subsidized Loans for more than 150 percent of the published length of their program (measured in academic years).