Syracuse University

Financial Aid Loans

Federal Direct Unsubsidized Loan

Eligibility for Federal Direct Subsidized and Unsubsidized Loans is determined by information submitted on the Free Application for Federal Student Aid (FAFSA) and your cost of attendance minus any other aid you receive.  A student receiving an unsubsidized Federal Direct Loan is charged interest from the time the funds are disbursed. A student may choose to defer the interest, but if he/she does this, the interest will be capitalized (added to the principal amount).

Interest Rate:
Undergraduate student - 3.86% fixed
Graduate student - 5.41% fixed

Loan Fees: 1.051% loans disbursed after July 1, 2103
                   1.072% loans disbursed after December 1, 2013

Credit Check: No

Eligibility: Must be at least half-time (six or more credits per semester)

Annual Loan Maximum:  Most undergraduate students are eligible to receive up to $2,000 in unsubsidized Federal Direct Loan.  Students who do not receive full eligibility for subsidized loans (based on need and student's academic level) may receive the difference in unsubsidized Federal Direct Loan. Graduate students may be eligible for up to $20,500 in unsubsidized Federal Direct Loan.

Undergraduate students whose parents are denied the Federal Direct Parent PLUS Loan may apply for an additional unsubsidized Federal Direct Loan; the maximum amount is:
Freshmen and Sophomore Students with 0-53 credits - $4,000;
Junior and Senior Students with 54+ credits -  $5,000;

Lifetime Loan Maximum:
Dependent Students - $31,000;
Independent Students - $57,500 (of which no more than $23,000 can be subsidized);
Graduate Students - $138,500 (of which no more than $65,500 can be subsidized loan). This total includes undergraduate borrowing.

Repayment Begins: Principal is not due while the student is enrolled at least half-time or during the six-month grace period. Interest is due while in school, but can be deferred (postponed). If the interest is deferred, it will be capitalized (added to principal).

Repayment Terms: 10 years (other repayment plans available based on special circumstances)

Eligible for Federal Loan: Deferments, Forbearances, or Loan Forgiveness: Yes

Eligible for Federal Consolidation: Yes

Interest Payments Eligible for Federal Tax Deduction: Yes

To Accept Your Federal Loan

Once students receive their SU Financial Aid Award Notice listing a loan estimate, they must complete the Master Promissory Note (MPN) and Entrance Counseling session to complete the application process for a Direct Loan. Visit your MySlice "Financial Aid To Do List" for instructions.

To Decline Your Federal Loan/Reduce the Loan Amount

To reduce the loan amount or decline the loan completely, students must notify the Office of Financial Aid and Scholarship Programs by completing the Loan Reduction/Cancellation Form.



Educational Loan Calculator

Use the loan calculator to estimate your monthly payments.

Cancel/Reduce Your Current Loan or Federal TEACH Grant

Fill out this form to cancel or reduce your current loan(s) or Federal TEACH grant.