Carnegie Mellon University
Office of Enrollment Management  ›  Student Financial Services  ›  Financial Aid  ›  Types of Aid  ›  Federal Loans  ›  Federal Direct Student Loan

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, 2022.

Loan Type

Borrower Type

first disbursed on or after 7/1/2022 and before 7/1/2023

First disbursed on or after 7/1/2023 and before 7/1/2024
Direct Subsidized Undergraduate 4.99% 5.50%
Direct Unsubsidized Undergraduate 4.99% 5.50%
Direct Unsubsidized Graduate 6.54% 7.05%
Direct PLUS Parents and Graduates 7.54% 8.05%

Direct Loan Origination Fees

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

Loan Type

First disbursed on or after 10/1/2021 and before 10/1/2022

First disbursed on or after 10/1/2022 and before 10/1/2023
Direct Subsidized 1.057% 1.057%
Direct Unsubsidized 1.057% 1.057%
Direct PLUS 4.228% 4.228%



Quick Links:

Time Limitation of Direct Subsidized Loan Eligibility

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 details.

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).