Loan Fees
Direct Subsidized and Unsubsidized Loans with a first disbursement date after October 1, 2022, have a loan fee of 1.057%. The loan fee for Direct PLUS (Parent and Graduate borrowers) is 4.228%. The fee is deducted from the loan funds the university receives.
Interest Rates for Direct Loans
On August 9, 2013 President Obama signed into law the Bipartisan Student Loan Certainty Act of 2013 which amends section 455(b) of the HEA to provide new formulas for the determination of interest rates for all Direct Loan types. Annually, the interest rate on Direct Loans will adjust based on the 10-Year Treasure Note Index with an add-on amount to set a fixed interest rate for the life of the loan that disburses in the aid year (always July 1 to June 30). The Bipartisan Student Loan Certainty Act also set caps for each loan. See the table below for the interest rates for loans first disbursed after July 1, 2022.
| Loan Type | Student Grade Level | 2022-2023 Fixed Interest Rate | 2023-2024 Fixed Interest Rate |
| Direct Subsidized | Undergraduate | 4.99% | 5.50% |
| Direct Unsubsidized | Undergraduate | 4.99% | 5.50% |
| Direct Unsubsidized | Graduate | 6.54% | 7.05% |
| Direct PLUS | Parents of Undergraduates and Graduate/Professional Students | 7.54% | 8.05% |