2012-2013 Student Loan Information
Direct Loan Process
When you accept the Direct Loan offer, a To Do checklist will be initiated on your My CSUstan Student Center to complete the Master Promissory Note (MPN) and Entrance Loan Counseling (ELC). All students must complete the MPN and Entrance Loan Counseling. Check your My CSUstan Student Center for instructions after you have accepted your loan.Quick Reference: Direct Loan Checklist
Federal Direct Loan Programs
The Federal Direct Subsidized Loan is a federally-sponsored loan. Subsidized loans are long-term with fixed interest rates and awarded to students based on financial need. Interest is paid by the government while the borrower is enrolled at least half-time. Student borrowers must be enrolled at least half-time to be eligible to receive these loans.
The Federal Direct Unsubsidized Loan is a federally-sponsored loan. Unsubsidized loans are long-term with fixed interest rates and awarded to students regardless of financial need. Interest is the borrower's responsibility. The borrower will be charged interest, usually on a quarterly-basis, and can either pay the interest while attending school or defer the interest which will be capitalized (added) to the outstanding principal when the student enters repayment. We strongly encourage students to pay the interest while attending school.
Student Loan Limits
Academic Year Limits
Class Level |
Subsidized |
Additional Unsubsidized |
Additional Unsubsidized |
Freshman |
$3,500 |
$2,000 |
$6,000 |
Sophomore |
$4,500 |
$2,000 |
$6,000 |
Junior/Senior |
$5,500 |
$2,000 |
$7,000 |
Teaching Credential |
$5,500 |
$0 |
$7,00 |
Graduate |
n/a |
n/a |
$20,500 |
Life Time Loan Limits
|
Dependent |
Independent |
Max Subsidized |
Undergraduate |
$31,000 |
$57,500 |
$23,000 |
Graduate* |
n/a |
$138,500 |
n/a |
Includes loans received for undergraduate study
IMPORTANT New Loan Information!
- Beginning July 1, 2012, all Federal Direct Subsidized and Unsubsidized loans will have a 1% origination fee, applied at disbursement.
- Graduate and professional students are no longer eligible to receive subsidized loans made for payment periods beginning on or after July 1, 2012. However, if you are a graduate or professional student, you may still qualify for up to $20,500 in unsubsidized loans each year.
- Federal Direct Subsidized Loans originated before July 1, 2012, interest is deferred while the borrower is enrolled at least half-time, during grace periods and periods of deferment.
- Beginning July 1, 2012 the Federal Direct PLUS loan will have a 4% origination fee applied at disbursement.