Federal Unsubsidized Direct Loan
Up to $2000
An Unsubsidized Direct Loan functions similarly to a subsidized loan, except that the government does NOT “subsidize” or pay for the interest while you are in school.
You may choose to pay the interest as you go or let it accrue while you’re in school and be added to the principal amount upon repayment. Loan fees apply, and payments begin six months after your last date of enrollment. Interest begins accruing after the first disbursement.
Unsubsidized loans may be awarded to any Corban student, regardless of financial need. The Federal Direct Loan program eliminates the need for loan applications, outside lenders, guarantee agencies, or paper loan checks. Corban will provide the student with everything needed to receive a Federal Direct Loan. The maximum loan amounts depend on the student’s year in school and total financial need.
Application Process
Submit your FAFSA as soon as possible after October 1. Use Corban’s code: 011339.
Requirements
- Available for all qualified FAFSA applicants
- Not need-based
Loan Details
The Federal Unsubsidized Direct Loan amount above does NOT include subsidized loans. Additional amounts available for independent students and dependent students whose parents are denied a PLUS loan.