Unsubsidized Loan (Formerly SLS)
Unsubsidized loans to dependent students provide for a maximum of $2,000 per year for undergraduate study, with an aggregate loan limit of $8,000. Independent students can borrow $6,000 per year for the first two years of study and $7,000 per year for the third or subsequent years, with an aggregate loan limit of $31,000. Graduate students can borrow up to $20,500 per year with an aggregate loan limit of $138,500.
Loans made under the unsubsidized loan program are not eligible for interest subsidy. Students must therefore pay this interest payment while in school, or allow the interest to capitalize. The interest rate for a loan originated between July 1, 2014 and June 30, 2015 is fixed at 4.66 percent.*
*This content has been updated as of the publication of the July 2014 catalog addendum.