The William D. Ford Direct Loan
program is a low, fixed-interest rate educational loan. Students must file the FAFSA
to determine eligibility for either the Subsidized or Unsubsidized Direct Loan. Subsidized loans do not accrue interest while the student is in school. Unsubsidized loans do accrue interest from the time the loan is disbursed; however, borrowers may choose to defer payments while they are enrolled.
- Federal Direct Loan amounts awarded by Colgate are less than the national average.
- Maximum annual loan levels are determined by the student’s year in school.
- The interest rate is set annually on July 1st, and borrowers lock in a fixed interest rate for the life of the loan.
- A small "origination" or processing fee is charged by the Department of Education.
- A variety of loan repayment options are available. Repayment begins six months after the student is no longer enrolled at least half time.
- Calculate loan repayment amounts by using the Federal Repayment Estimator.
Current Borrowing Limits, Interest Rates, and Origination Fees
For further information about Federal Direct Loans, see the information summarized here
or visit one of several pages within the Federal Student Aid website that specifically describes these loans