The Federal Direct Loan program comes in two types: Subsidized Direct Loans, and Unsubsidized Direct Loans. For a Subsidized Direct Loan, the interest that accrues on the note is paid by the federal government as long as the student is attending school half time. The government also pays the interest on a Subsidized loan for the six-month grace period after a student graduates from Brescia University or falls below half-time enrollment status. The Unsubsidized Direct Loan is not need-based and the government does not pay any of the interest on the note. Instead, it is the student’s responsibility to pay the interest while enrolled or defer the interest until the student is out of school for six months.
The interest rate for Direct Loans may not exceed 8.25% and the charts below indicate the maximum loan limits a student may receive in an academic year for both Subsidized and Unsubsidized Federal Direct Student loans. Limits are affected by grade level and FAFSA Dependency status.
| Grade Level | Credit Hours Earned | Subsidized Loan Limit | Unsubsidized Loan Limit | Total Loan Limit |
|---|---|---|---|---|
| Freshman | 0-29 | $3,500 | $2,000 | $5,500 |
| Sophomore | 30-59 | $4,500 | $2,000 | $6,500 |
| Junior/Senior | 60+ | $5,500 | $2,000 | $7,500 |
| Grade Level | Credit Hours Earned | Subsidized Loan Limit | Unsubsidized Loan Limit | Total Loan Limit |
|---|---|---|---|---|
| Freshman | 0-29 | $3,500 | $6,000 | $9,500 |
| Sophomore | 30-59 | $4,500 | $6,000 | $10,500 |
| Junior/Senior | 60+ | $5,500 | $7,000 | $12,500 |
| Masters | Ineligible | $20,500 | $20,500 |