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Federal Direct Loan (Subsidized)
A Federal Direct loan is available to students who demonstrate financial need. The maximum amounts are: $3,500 for a first-year undergraduate student, $4,500 for a second-year student and $5,500 for a third or fourth-year student. Subsidized loans first disbursed on or after July 1, 2013, have an interest rate of 3.86% for undergraduate students.There is a 1.072% origination fee charged by the federal government on Federal Direct Subsidized loans. The federal government pays the interest on the loan as long as the student is enrolled at least half-time.
Eligibility is based on other sources of financial aid received and a parental contribution factor. Students and parents will borrow directly from the U.S. Department of Education. You must complete the Federal Direct Loan Request form, Master Promissory Note (MPN), and Loan Entrance Counseling available online via the myLynn Student Finances tab, or by following the application instructions listed below.
Need-based Aid: Yes
Award Amount: $3,500 - $5,500 based on grade level, dependency status and budget
This aid is for all undergraduate students
Enrollment Requirements: At least half-time enrollment status
- Master Promissory Note
- Direct Loan Request Form
- Loan Entrance Counseling
- Authorization Regarding Credit
- FERPA Financial Release