Carnegie Mellon University

Federal Direct Student Loan

Students will receive consideration for a Federal Direct Student Loan by completing the FAFSA and the funding comes directly from the federal government to the university. Students planning on borrowing a subsidized, unsubsidized or PLUS Loan for the first time are required to complete a Federal Direct Loan Master Promissory Note and Federal Direct Loan Entrance Counseling. Graduate students are eligible only for unsubsidized loans. 

Interest Rates

The following are rates for loans first disbursed on or after July 1, 2018.

Loan Type

Borrower Type

First disbursed on or after 7/1/2018 and before 7/1/2019

First disbursed on or after 7/1/2019 and before 7/1/2020

Direct Subsidized Undergraduate 5.045% 4.529%
Direct Unsubsidized Undergraduate 5.045% 4.529%
Direct Unsubsidized Graduate 6.595% 6.079%
Direct PLUS Parents and Graduates 7.595% 7.079%

Direct Loan Origination Fees

Origination fees are deducted from the gross amount of the loan borrowed.

Loan Type

First disbursed on or after 10/1/2018 and before 10/1/2019

First disbursed on or after 10/1/2019 and before 10/1/2020

Direct Subsidized 1.062% 1.059%
Direct Unsubsidized 1.062% 1.059%
Direct PLUS 4.248% 4.236%



Unsubsidized or Federal Direct PLUS Loan Only

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. For internal processing, please complete the Request for Federal Unsubsidized or Federal Parent PLUS Loan Only (pdf) form.


Loan Acceptance & Certification

Student Financial Aid will certify awarded Federal Direct Student Loans upon the submission of all required documents. For undergraduate students, we will assume the amount specified in the award letter is being accepted, unless we are notifed by the student to cancel all or a portion of the loan. Graduate students must accept their loans in Student Information Online (SIO).