Subsidized Federal Direct Loans (Undergraduate Only)
Subsidized Direct Loans are awarded to students with demonstrated financial need. Interest is subsidized (paid) by the government while the student is in school and during the six-month grace period after the student leaves school or drops below half-time enrollment status*. Loans enter repayment at the end of the grace period.
On July 6, 2012, the Moving Ahead for Progress in the 21st Century Act (MAP-21) was enacted. As part of the MAP-21 Act, a first-time borrower’s eligibility for Federal Direct Subsidized Loans is limited to a period not to exceed 150 percent of the length of the borrower’s educational program. After this limit has been reached, students may only borrow unsubsidized loans and interest will begin to accrue on all previously borrowed subsidized loans.
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*Interest will be charged during the six-month grace period for subsidized loans disbursed between July 1, 2012, and June 30, 2014.
Unsubsidized Federal Direct Loans (Undergraduate/Graduate)
Unsubsidized Direct loans are available to all students regardless of income. Interest accrues from the date of disbursement, but the extra costs of accrual can be avoided by making regular interest payments while in school. Loans enter repayment six months after the student graduates or cease half-time enrollment.
Direct Loan Interest Rates
|Direct Loan Interest Rates||Direct Loan *Fees|
|Academic Year||Subsidized||Unsubsidized||Graduate||Effective October 1st of every year|
Direct Loan Borrower Annual and Lifetime Aggregate Loan Limits
|Annual Loan Limits|
|Grade Level||Maximum Subsidized||Unsubsidized||Total Yearly Amounts|
|Freshman (DEP)||$ 3,500||$ 2,000||$ 5,500|
|Sophomore (DEP)||$ 4,500||$ 2,000||$ 6,500|
|Junior (DEP)||$ 5,500||$ 2,000||$ 7,500|
|Senior (DEP)||$ 5,500||$ 2,000||$ 7,500|
|Undergraduate (DEP) Lifetime Limit||$ 23,000||$ 8,000||$ 31,000|
|Freshman (INDEP)||$ 3,500||$ 6,000||$ 9,500|
|Sophomore (INDEP)||$ 4,500||$ 6,000||$ 10,500|
|Junior (INDEP)||$ 5,500||$ 7,000||$ 12,500|
|Senior (INDEP)||$ 5,500||$ 7,000||$ 12,500|
|Undergraduate (INDEP) Lifetime Limit||$ 23,000||$ 34,500||$ 57,500|
|Graduate||-||$ 20,500||$ 20,500|
|Graduate Lifetime Limit||-||-||$ 138,500|
Average Loan Indebtedness for the Graduate Class of 2015
|Number of Borrowers||Percent of Graduating Class||Average Borrowed|
All Loans includes Federal Direct loans (subsidized and unsubsidized). Federal Perkins loans, PLUS loans, and private alternative loans are not included in the average.
The graduating class is comprised of students graduating with undergraduate degrees between Dec 1st, 2014 and August 31st, 2015.
The method used to generate these statistics is based on the Common Data Set reporting process.
How to apply for a Direct Loan at UCCS
- Complete the Free Application for Federal Student Aid (FAFSA).
- Complete your financial aid file.
- When you receive your award letter, sign into myUCCS Self Service to accept, reduce, or decline your loan(s).
- Complete Direct Loan entrance counseling.
- Complete a Master Promissory Note.
- Enroll in at least 6 credit hours for undergraduate students or 3 credit hours for graduate students.
- Maintain satisfactory academic progress.
Direct Loan Borrower Rights and Responsibilities
As a Direct Loan borrower, you are expected to understand your rights and responsibilities.