A federal Direct loan is a guaranteed student loan available to students attending Keuka College at least half time. Federal Direct loans have a low, fixed interest rate and deferred payments while the student is in school. The annual federal Direct loan limits for the 2011-2012 academic year are as follows:
|0-25 credits||$5,500 (up to $3,500 subsidized)|
|26-54 credits||$6,500 (up to $4,500 subsidized)|
|55-83 credits||$7,500 (up to $5,500 subsidized)|
|84 + credits||$7,500 (up to $5,500 subsidized)|
|0-25 credits||$9,500 (up to $3,500 subsidized)|
|26-54 credits||$10,500 (up to $4,500 subsidized)|
|55-83 credits||$12,500 (up to $5,500 subsidized)|
|84 + credits||$12,500 (up to $5,500 subsidized)|
|Graduate||$20,500 (all unsubsidized)|
* Eligible credits are determined by the Office of the Registrar
|Subsidized Base Amount||Total (subsidized and unsubsidized)|
|Independent Undergrads & Dependent Undergrads without access to Parent PLUS||$23,000||$57,500|
|Graduate and Professional Students||$65,000||$138,500|
There are two types of Federal Direct Loans: subsidized loans are need-based, and the government pays the interest on these loans while you are in school, during a six-month grace period immediately preceding repayment, and during authorized deferment. The interest rate for subsidized direct loans for the 2012-2013 year is fixed at 3.4%.
Unsubsidized loans accrue interest while you are in school. The interest rate for 2012-2013 unsubsidized direct loans is fixed at 6.8%.
Apply Online: Students will need to complete an e-MPN online at StudentLoans.gov in order for Keuka College to receive funding for this loan.
First-time borrowers of Stafford Loans must also complete an entrance seminar.