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Federal Direct Graduate Unsubsidized Loan

Federal Direct Graduate Unsubsidized Loans are fixed-rate loans available to degree-seeking graduate or professional students enrolled at least half-time in courses that are degree applicable.

Eligibility and annual funding level is determined by:

  • Submitting a valid FAFSA for the academic year
  • Enrollment in a qualified graduate or professional program
  • Your cost of attendance

Maximum Annual Limit: The annual limit is determined by your program of study and cost of attendance.

  • Master's Programs: You may borrow up to $20,500 per year
  • Doctor of Pharmacy Program, Years P1-P3: You may borrow up to $33,000 per year
  • Doctor of Pharmacy Program, Year P4: You may borrow up to $37,167 (P4 year includes summer, fall, spring)

Unsubsidized: You are charged interest from the date the loan funds are disbursed to your student account until the loan is paid off. Note the following:

  • You may pay the interest while enrolled in school; or
  • You can allow the interest to accrue.
    • Any unpaid interest, at the time the loan goes into repayment, is capitalized and added to the loan principal amount.
    • No penalty is incurred for early repayment.

1. Complete the FAFSA

Complete the Free Application for Federal Student Aid (FAFSA) online.

  • You cannot receive a federal direct loan unless you complete the FAFSA.
  • The FAFSA will also determine your eligibility for the federal loan program.

2. Record your eAward Decision

Using myCU, access your Financial Aid account.

  • Select the aid year that you wish to review at the 'Select an Award Year' field.
  • Click on ‘Review and accept your Financial Aid Award Package’ under the Checklist section.
    • NOTE: All the steps on the checklist prior to this must be completed first.
  • Review the direct loans that are part of your financial aid package and record your decision.
  • After you ‘Accept’ or ‘Decline’ the loan(s), you will be able to see the immediate changes in your eAward.
    • NOTE: If, at a later date, you change your mind regarding an ‘Accepted’ or ‘Declined’ loan, you CANNOT change it in your Self-Service account. To change the loan status OR amount, please review our FAQ on Loans (Types, Fees, Limits, Repayment) page for further instructions.

3. Complete Graduate Entrance Counseling

As a first-time borrower, you must complete Graduate Entrance Counseling to obtain a Federal Direct Student Loan.

  • Make sure you select the option to complete entrance counseling as an Graduate Student.
  • Students who completed Graduate Entrance Counseling in a prior year have met this federal requirement.
  • Transfer students: If you received a Graduate Student Direct Loan at another institution, in most cases this requirement is considered met as long as Cedarville is able to confirm the prior Graduate Entrance Counseling.

4. Complete the Subsidized/Unsubsidized Master Promissory Note

As a first-time student borrower, you must complete a Subsidized/Unsubsidized Loan MPN to obtain a Federal Direct Student Loan.

  • In most cases, students who received direct loan funds in a prior year have met this federal requirement.
  • Transfer graduate/professional students: If you received Federal Direct Student Loan funds at another institution, in most cases this requirement is considered met as long as Cedarville is able to confirm your prior borrowing.