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Federal Direct Student Loan

To be eligible for a Federal Direct Student Loan, a student must be:

  1. a U.S. citizen or eligible non-citizen;
  2. enrolled or admitted as a matriculated student; and
  3. determined to be eligible for the loan after completion of the FAFSA, which results in the calculation of the "Expected Family Contribution."

Students must also be registered for at least 6 credits/equated credits per semester. Freshmen may borrow up to $2,625 per academic year; sophomores, up to $3,500 per academic year; juniors and seniors, up to $5,500 per academic year. There is a maximum cap of $23,000 for an undergraduate education. Students may borrow at a relatively low variable interest rate, set each June. Repayment is not expected while he/she remains enrolled continuously at least half-time (6 credits/equated credits), and for six months after he/she ceases to be at least a half-time student.

For information regarding the unsubsidized Federal loan, which requires the borrower to pay interest while in school, consult a counselor in the Financial Aid Office. The FAFSA Student Aid Report must be on file with the Financial Aid Office before a Federal Direct Student Loan can be processed. For more information, visit www.lehman.edu/financial-aid.

Last modified: 7/30/2015