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OFFICE OF FINANCIAL AID

Direct Loans for Graduate Students

Basic Information
Loan Limits
How to Apply
Repayment


Basic Information

Unsubsidized Direct Loan

The Federal Unsubsidized Direct Loan is not based on financial need - the government does not subsidize this loan. As a result, you are responsible for all the interest that accrues during school, grace periods and deferment periods. You may choose to make interest payments while in school or capitalize the interest (add it to your loan principal) until repayment.

Interest rates are set by federal regulation, effective as of July 1 of the academic year.  Currently, graduate unsubsidized Stafford loans are set at a fixed interest rate of *5.31%.  Loan origination fees of *1.068% maybe deducted from your loans at disbursement.

*New loans disbursed on or after July 1, 2017 will have a fixed interest rate of 6.00%.*

**Due to the Sequestration of Federal Student Aid Programs, interest rate and origination fees may be subject to change.**


Loan Limits

Grade Level Total Amounts

Each Year

$20,500

Aggregates

$138,500

**Beginning, July 1, 2012, subsidized Direct loans will no longer be made available to graduate students per The Budget Control Act of 2011.


How to Apply

1. File a FAFSA online at www.fafsa.gov . Once your file is complete, the Office of Financial Aid will send you a financial aid award notice.

2. To accept your student loans, login to myWSU and select the Financial Aid Tab, then Financial Aid Awards link. Keep in mind that you should borrow only what you need.

3. If this is your first Direct Loan at Wichita State University, you must have a completed online entrance counseling and a Master Promissory Note (MPN) on file with the Department of Education.  If you completed a Direct Loan MPN for an earlier loan at WSU, you may not need to complete another one.

4. WSU will certify your loan eligibility and notify the Department Of Education.


Repayment