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.
Submit your FAFSA as soon as possible after October 1.
- Available for all qualified FAFSA applicants
- Not need-based
About this Loan
Since the government doesn’t subsidize this loan (cover the interest), you may choose to pay the interest as you go or let it accrue while you’re in school and be added to the principle amount upon repayment. Loan fees will apply, and payments will 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.
- Freshmen: $5,500
- Sophomores: $6,500
- Juniors/Seniors: $7,500
Additional amounts available for independent students and dependent students whose parents are denied a PLUS loan.
Learn more about Federal Direct Loans.