{"id":288,"date":"2017-11-20T14:38:06","date_gmt":"2017-11-20T14:38:06","guid":{"rendered":"https:\/\/www.macalester.edu\/financial-aid\/direct\/"},"modified":"2025-11-12T16:53:34","modified_gmt":"2025-11-12T16:53:34","slug":"direct","status":"publish","type":"page","link":"https:\/\/www.macalester.edu\/financial-aid\/loans\/direct\/","title":{"rendered":"Federal Subsidized and Unsubsidized Direct Loan"},"content":{"rendered":"

The information below should be considered a summary of the Federal Direct Loan program. Please see the Federal Student Aid site<\/a> for details.<\/em><\/p>\n\n\n\n

Loans through this government-sponsored loan program are in the student\u2019s name and do not require a co-signer or credit check.<\/p>\n\n\n\n

For questions about Federal Direct Loan Servicing, please see the FAQ Page<\/a>.<\/p>\n\n\n\n

Subsidized loans<\/em><\/strong> are awarded to students with financial need based on FAFSA results. The 2025-2026 interest rate is fixed at 6.39%. No interest accrues while the student is enrolled at least half-time.<\/p>\n\n\n\n

Unsubsidized loans<\/em><\/strong> are awarded to students who do not have remaining financial need after other aid is awarded. The 2025-2026 interest rate is fixed at 6.39%. Interest on unsubsidized loans accrues from the time that the loan is received.<\/p>\n\n\n\n

Note: If a student\u2019s parent applies for and is denied a Federal PLUS Loan<\/a>, the student may qualify for additional Unsubsidized Federal Direct Loan. At the first-year and sophomore levels, the student may borrow to a maximum of $4,000 in additional funds each year. During the junior and senior years the amount increases to $5,000 per year.<\/p>\n\n\n\n

\n\n\n\n

The standard repayment period<\/strong> for all Direct Loans (both subsidized and unsubsidized) is 10 years and begins six months after the student is no longer enrolled at least half-time. For more information about repayment options, visit Studentaid.ed.gov.<\/a><\/p>\n\n\n\n

2025-2026 loan origination fee:<\/strong> 1.057%<\/p>\n\n\n\n

\n\n\n\n

To apply for a Direct Loan:<\/strong><\/h2>\n\n\n\n
    \n
  1. If you have not already done so, complete the FAFSA<\/a><\/strong>.<\/li>\n\n\n\n
  2. After you receive a notice of financial aid eligibility from Macalester, login to 1600Grand<\/a> to accept all or part of your loan<\/strong>. Click the Money Matters tab and then the Financial Aid Dashboard link. Select the 2026-27 academic year from the drop-down list; then click the Award Offer tab and scroll down to the Loans section. Decide how much of your Federal Direct Loan you wish to borrow and click the Submit button.<\/li>\n\n\n\n
  3. Complete your Direct Loan Entrance Counseling online:<\/strong> First time borrowers must complete Direct Loan Entrance Counseling prior to applying for the Federal Direct Loan. Visit studentaid.gov<\/a> and log in with your FSA ID. Your results will be sent to us electronically. (Parents should NOT complete the session on behalf of their students, as this is a federal requirement designed to benefit each student\u2019s understanding of their rights and responsibilities.)
    NOTE: If you previously borrowed under our Federal Direct Loan process, you do NOT need to complete Entrance counseling again. However, if you would like a refresher, please visit     studentaid.gov<\/a> and select \u201cComplete Entrance Counseling\u201d.<\/em><\/li>\n\n\n\n
  4. Complete your Master Promissory Note (MPN) online:<\/strong> Borrowers must complete the Master Promissory Note (MPN) at studentaid.gov<\/a>. If you are continuing your application after completing the Entrance Counseling Session you will not need to \u201csign in\u201d for a second time. Simply proceed to the \u2018Master Promissory Note\u2019 section.
    <\/li>\n<\/ol>\n\n\n\n

    Printable\/PDF instruction sheet – 2025-2026<\/a><\/p>\n\n\n\n

    Printable\/PDF instruction sheet – 2026-2027<\/a><\/p>\n\n\n\n

    <\/p>","protected":false},"excerpt":{"rendered":"

    The information below should be considered a summary of the Federal Direct Loan program. Please see the Federal Student Aid site for details. Loans through this government-sponsored loan program are in the student\u2019s name and do not require a co-signer or credit check. For questions about Federal Direct Loan Servicing, please see the FAQ Page. […]<\/p>","protected":false},"author":1,"featured_media":0,"parent":252,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-288","page","type-page","status-publish","hentry"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.macalester.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.macalester.edu\/financial-aid\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.macalester.edu\/financial-aid\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/financial-aid\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/financial-aid\/wp-json\/wp\/v2\/comments?post=288"}],"version-history":[{"count":35,"href":"https:\/\/www.macalester.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/288\/revisions"}],"predecessor-version":[{"id":4099,"href":"https:\/\/www.macalester.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/288\/revisions\/4099"}],"up":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/252"}],"wp:attachment":[{"href":"https:\/\/www.macalester.edu\/financial-aid\/wp-json\/wp\/v2\/media?parent=288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}