Direct Subsidized Loan
- for students with demonstrated financial need, as determined by federal regulations. No interest is charged while students are in school at least half-time, during 6 months grace period and during deferment periods.Direct Unsubsidized Loan
- not based on financial need; interest is charged during all periods.Direct PLUS Loans
- are low interest loans available to parents of dependent students or for graduate/professional degree students. Interest is charged during all periods.
Graduate/professional degree students who need to borrow more than the maximum subsidized or unsubsidized loan amounts to meet education expenses not covered by other financial aid may be eligible to receive a Direct PLUS Loan
have a fixed interest rate that differs depending on the loan type and other factors.
The maximum amount student can borrow each school year depends on student’s grade level and other factors. It ranges from $5,500 per year for a dependent freshman to $20,500 per year for a graduate/professional degree student; however, the actual amount students are eligible to borrow each year is determined by AJU Financial Aid office and may be less than the maximum amount. There are also limits on the total amount of student’s loan debt.
In addition to interest, students pay a loan origination fee that is a percentage of the principal amount of each Direct Loan that you receive. This fee helps reduce the cost of making these low-interest loans. Federal Government deduct the fee before students receive any loan money, so the loan amount students actually receive will be less than the amount they have to repay.Click here for more information on Direct Loans
Direct loan recipients are required by law to complete Entrance Counseling
prior to the first loan disbursement. Upon separation from AJU, student must complete Exit Counseling
These Exit/Entrance Loan Counseling sessions may be completed online at: https://studentloans.gov/myDirectLoan/completeCounseling.action