Graduate Federal Direct Loan Request

Note: This request form is for the Fall 2024 and Spring 2025 enrollment periods.

The Federal Direct Unsubsidized Loan is a low-interest loan available to students for post secondary educational expenses. Most domestic matriculated students are eligible for an Unsubsidized Loan each academic year. The Federal Direct loan program is part of the Title IV aid program that offers Federal financial assistance to students and includes, among other funds, the Direct Unsubsidized and Direct Graduate PLUS loan.

The Direct Unsubsidized loan is made to the student who is responsible for repayment. The interest rate for all Direct Unsubsidized Loans disbursed on or after July 1, 2024 and prior to July 1, 2025 is a fixed rate of 8.08%. The origination fee is 1.057% for loans disbursed after October 1, 2020 and prior to October 1, 2025.

You are eligible to participate in the Federal Direct Loan Program if you are:

A U.S. citizen or permanent resident
Enrolled in a degree program on at least a half-time basis (or considered at least half-time by your School/College) and credits count towards your degree
Making satisfactory academic progress
Do not have an outstanding balance from a prior period of enrollment at Boston University
Have not met the cumulative (aggregate) limit for the Federal Direct (formerly Stafford) Subsidized/Unsubsidized loan program of $138,500 for graduate and professional students, including any amount borrower for undergraduate study.

You must complete the following Federal requirements in order for your Unsubsidized loan to credit to your student account:

Complete a 2024-2025 Free Application for Federal Student Aid (FAFSA). Boston University's School Code is 002130 and you must select Boston University as your school choice in order for Boston University to receive your FAFSA data. You will receive a Student Aid Report (SAR) from the Department of Education and you should review this report for any additional information that may be necessary.
First time borrowers must complete a Direct Loan Master Promissory Note (MPN). The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s).
First time borrowers must complete Entrance Counseling online. Entrance Counseling is required to ensure that you understand the responsibilities and obligations that you are assuming by requesting a Federal Direct Student Loan. If you completed Entrance Counseling for another graduate degree, you do not need to complete this again.

Federal regulations require that all Federal Direct Loans be disbursed in two equal installments. The second disbursement cannot be made available until halfway through the loan period. This means that for students who are attending both semesters of the academic year, half the loan amount is available in the fall and the other half is available in the spring. For students borrowing for one semester only (January graduates or students beginning their studies in January) there will be one disbursement for the entire amount of the loan.

Annual and lifetime borrowing limits

Graduate and professional students are eligible to borrow up to $20,500 in a Direct Unsubsidized Loan each academic year. The cumulative (aggregate) limit for the Federal Direct (formerly Stafford) Subsidized/Unsubsidized Loan program is $31,000 for undergraduates and $138,500 for graduate and professional students, including any amount borrowed for undergraduate study.

When will loan funds be available?

Once you have completed all necessary requirements (valid FAFSA, Entrance Counseling, MPN) and your loan has been processed, your loan funds will be applied directly to your student account. If this creates a credit on your account, a refund will automatically be processed. Additional information about refunds and how to securely provide your bank account information is available through Student Accounting Services.

When does repayment begin?

You are required to begin repayment six months after you graduate, leave school, or cease to be enrolled at least half-time (typically less than 6 credits per semester). During this six month grace period you will receive repayment information from your loan servicer and you will be notified of your first payment due date. All students are required to complete loan Exit Counseling upon graduation, dropping to less than half-time status, or ceasing to be enrolled. Exit Counseling is a tool used to help you navigate student loan repayment. You can also visit StudentAid.gov for more information regarding your Federal loans and repayment information.

If you have any questions regarding this request form or your financial aid please contact your graduate financial aid office. You can find contact information on our Graduate Education page.

Please complete the following form to submit your request for a Federal Direct Unsubsidized Loan.

Name*

First Last

Boston University Email*

Phone Number*

BU ID Number*

Anticipated Graduation Date (MM/YYYY)*

I have completed a 2024-2025 Free Application for Federal Student Aid (FAFSA).*

Yes
No

Boston University's Federal School Code is 002130. You can enter this code on your FAFSA when selecting school(s) that will receive your FAFSA.

Approximate date that the FAFSA was submitted:*

Your Federal Direct Loan request will not be processed until Boston University has received a valid FAFSA.*

I understand

I have previously borrowed a Graduate Federal Unsubsidized Loan.*

Yes
No

I understand that my Direct Unsubsidized Loan will not credit to my student account until I have completed a Master Promissory Note and Entrance Counseling on the Student Aid website.*

Please visit StudentAid.gov to learn more and to complete these requirements.

Yes
No

I am enrolled in a program in the following School or College:*

Please indicate the degree you are pursuing:*

Program Location:*

Please enter your cumulative GPA. If you are a new student for Fall 2024 please enter N/A.*

If you are a current Wheelock student with a cumulative GPA that is below the required 2.00, please contact wheaid@bu.edu prior to submitting this loan request form. You may be asked to provide additional information before your loan eligibility for the 2024-2025 academic year can be determined.

Please enter your cumulative GPA. If you are a new student for Fall 2024 please enter N/A.*

If you are a current Sargent student with a cumulative GPA that is below the required 3.00, please contact sargaid@bu.edu prior to submitting this loan request form. You may be asked to provide additional information before your loan eligibility for the 2024-2025 academic year can be determined.

Are you interested in Federal Work Study for the academic year?*

Yes
No
Unsure

Please select the program that you are pursuing within the School of Law:*

I intend to enroll in Summer 2025.*

Yes
No

If you select yes, your Federal Direct Loan will be divided evenly between the Fall, Spring, and Summer enrollment periods.

Please select the program that you are pursuing within Sargent College:*

I Plan to Enroll in the Following Number of Credit Hours:*

Fall 1	Fall 2	Fall Total Credits	Spring 1	Spring 2	Spring Total Credits

In order to be eligible for Federal Direct loans you must be enrolled in at least 6 credit hours during a semester or considered full-time by your School or College. Your Loan request will not be processed until you have registered for the listed number of credits hours.

I Plan to Enroll in the Following Number of Credit Hours:*

Fall Credit Hours	Spring Credit Hours

In order to be eligible for Federal Direct loans you must be enrolled in at least 6 credit hours during a semester or considered full-time by your School or College. If you are not currently enrolled but plan to enroll please list your estimated credit hours. If you will be considered full-time by your School or College you can enter "CFT" in the spaces above.

I Plan to Enroll in the Following Number of Credit Hours:*

Fall Credit Hours	Spring Credit Hours

In order to be eligible for Federal Direct loans you must be enrolled in at least 6 credit hours during a semester or considered full-time by your School or College. If you are not currently enrolled but plan to enroll please list your estimated credit hours. If you will be considered full-time by your School or College you can enter "CFT" in the spaces above.

I wish to apply for a Direct Unsubsidized Loan for the following TOTAL amount:*

Please enter a number from 100 to 20500.

The annual limit for the Federal Direct Unsubsidized loan is $20,500. If you borrowed Federal loans during a summer session this may reduce your remaining Federal Direct loan eligibility. Federal regulations require that all loans must be evenly disbursed between the Fall and Spring semesters.

Please enter any anticipated funds for the 2024-2025 academic year not including this loan:

Source	Amount in $

If you are anticipating funding from more than 1 source please use the "+" button to list all sources of funding.

Please check one of the boxes below to indicate whether or not you plan to enroll in the Boston University student medical insurance plan.*

Visit www.bu.edu/shs/getting-started/student-health-insurance-plan for a complete description of the student medical insurance plans. If you waive the medical insurance plan, please be aware that it may affect your loan eligibility.

Basic
Plus
Will Not Enroll
Not Applicable (Part-Time and/or Online Student)

Please read the following statements and type your full name below to indicate you have read and agreed to the following:

I will use all Title IV aid received only for expenses related to my study at Boston University.
I certify that I do not owe a refund on any grant or loan, am not in default on any loan or have made satisfactory arrangements to repay any defaulted loan, and have not borrowed in excess of the loan limits, under Title IV programs, at any institution.
I understand that it is my responsibility to promptly notify my graduate aid office of any additional outside funding and any enrollment or program changes that may impact my degree candidate status.
I certify that the information on this form is correct and that any incorrect information may lead to a delay in the processing of this request form or may lead to me being ineligible for the Federal Direct Loan program.

I have read and agree to all of the above statements.*

Type Full Name Here

Today's Date*