/Institutions/Stevens-Institution-of-Technology/json/2024-2025/Academic-Catalog-local.json

/Institutions/Stevens-Institution-of-Technology/json/2024-2025/Academic-Catalog.json

2024-2025 Academic Catalog > Financing a Stevens Education > Graduate Student Financial Information > Financial Aid Sources > Federal Loans

Federal Loans

There are a number of loan opportunities for eligible graduate students. Federal Direct Unsubsidized Loans as well as Federal Direct Graduate PLUS loans may be available to qualified borrowers. The maximum amount that can be borrowed from the Federal Direct Unsubsidized Loan program for the academic year is $20,500. The graduate student aggregate loan limit is $138,500. Interest accrues on the loan beginning at disbursement (the interest rate is fixed at 8.08% for graduates for the 2024-2025 year with a 1.057% loan fee taken at the time of disbursement).

The Graduate PLUS loan is a credit-based loan that is not need based. The interest rate is fixed at 9.08% for the 2024-2025 year with a loan fee of 4.228% taken at the time of disbursement. The Graduate PLUS Application can be completed at studentloans.gov. After submission of the PLUS Application, the student will receive a credit decision electronically. If credit approved then the student must complete their Graduate PLUS Promissory Note, on studentloans.gov. If your credit is declined by the federal government then you may appeal their credit decision, or you may wish to obtain a co-signer. A co- signer must electronically complete an Endorser Addendum. For more information on the federal loan programs & their requirements, please navigate to www.studentloans.gov."