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Important Changes to Direct Loans due to Federal Government Sequestration
Direct Subsidized and Unsubsidized loans
- Increase in loan origination fees on first disbursements after March 1, 2013.
Direct Subsidized and Unsubsidized loans origination fee on the loan increases from
1.0% to 1.051%.
For example:
the origination fee on a $5,500 loan increases by $2.80 from $55.00 to $57.80.
**Students who wish to cancel or reduce their loans before disbursement should contact the Office of Student Financial Aid as soon as possible.
Graduate and Parent PLUS loans
- The origination fee on the loan increases from 4.0% to 4.204%.
For example:
the origination fee on a $10,000 PLUS loan increases by $20.40 from $400 to $420.40.
**Graduate students and parents who wish to cancel or reduce their loans before disbursement should contact the Office of Student Financial Aid as soon as possible.
