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Federal Direct Loan Program

Federal Direct Loans

Federal Direct Loans for graduate students are non-need based Unsubsidized Loans. The 2020-2021 academic year loan has a fixed interest rate of 4.3%. Loans disbursed prior to October 1, 2020 have a 1.059% origination fee; the origination fee is deducted from the total loan amount. Additonal information regarding interest rates and fees can be found here. Interest accrues on Direct Loans starting from the day of disbursement to the school. The maximum loan amount is $20,500, which is split evenly between fall and spring terms. The program is administered by the HGSE Financial Aid Office, the U.S. Department of Education is the holder of the loan, and a loan servicer is assigned to manage your loan account and repayment.

Students must complete entrance counseling and an electronic loan agreement/promissory note prior to the loan being disbursed. The HGSE Financial Aid Office will notify students when it is time to complete these requirements.

Federal Loan Forgiveness & Cancelation Programs

Federal Perkins Loans and Federal Direct Loan borrowers may qualify for various types of loan forgiveness and/or cancelation programs for working in high need teaching areas and public service jobs. The following resources provide information on the programs offered by the Federal Government, but borrowers should also be aware that these programs may also exist at the state, local or employer levels.

Additional Federal Loan Information & Resources