Federal Direct Student Loan-Student Financial Aid - Carnegie Mellon University

Federal Direct Student Loan

Students will receive consideration for a Federal Direct Student Loan by completing the FAFSA. All undergraduate and graduate students planning on borrowing a subsidized, unsubsidized or PLUS Loan for the first time are required to complete a new Federal Direct Loan Master Promissory Note and Federal Direct Loan Entrance Counseling. Specific instructions for applying and reapplying are indicated in the links below.

Current Direct Loan Interest Rates & Fees

Loan Type





(first disbursed

on or after Oct. 1, 2014

and before Oct. 1, 2015)

Rate Cap
Subsidized Stafford (undergraduate) 4.66% 1.073% 8.25%
Unsubsidized Stafford (undergraduate) 4.66% 1.073% 9.5%
Unsubsidized Stafford (graduate) 6.21% 1.073% 10.5%
PLUS (parent and graduate) 7.21% 4.292% 10.5%

*Direct Loan Fees: The subsidized and unsubsidized Federal Direct Loans have a 1.073% origination fee, which will be deducted from the gross amount of the loan borrowed. The Federal Direct PLUS Loan has a 4.292% origination fee, which will be deducted from the gross amount of the loan borrowed.

EFFECTIVE July 1, 2013:

Time Limitation of Direct Subsidized Loan Eligiblity for First-Time Borrowers
There is a limit on the maximum period of time (measured in academic years) that a student can receive Direct Subsidized Loans. In general, students may not receive Direct Subsidized Loans for more than 150% of the published length of their program. View more information regarding this 150% limitation on Direct Subsidized Loans.

EFFECTIVE 2012-2013: 

New (undergraduate) subsidized Federal Direct Student Loans made from July 1, 2012 to June 30, 2014 will not be eligible for subsidized interest benefits during the six-month grace period after a student graduates or falls below half-time enrollment. Interest will accrue during the grace period and will be capitalized if unpaid by the borrower.

About Federal Direct Student Loans

Federal Direct Student Loans offer students a single application process (FAFSA). The funding comes directly from the federal government to the university.

Students who do not wish to apply for financial aid but are interested in applying for an unsubsidized Federal Direct Student Loan or whose parent(s) are only interested in borrowing a Federal Direct PLUS Loan are only required to complete a FAFSA (Free Application for Federal Student Aid). For internal processing, please complete the Request for Federal Unsubsidized or Federal Parent PLUS Loan Only form.

Direct Loan Links