Federal Direct Student Loans

Subsidized Federal Direct Student Loans of up to $3,500 for first year, $4,500 for second year, and $5,500 for third- and fourth-year students are available for study at Hamilton through the Federal Direct Student Loan Program. Eligible students can request an unsubsidized Federal Direct Student Loan up to $2,000. Maximum dependent undergraduate indebtedness cannot exceed $31,000. The interest rate on a Federal Direct Student Loan is 4.45 percent for loans disbursed on or after July 1, 2017, and before July 1, 2018, and fixed for the life of the loan. Even though the statutory maximum may be borrowed, interest subsidy is available only on that portion for which the borrower has demonstrated need. The origination fee on a Federal Direct Student Loan is 1.066 percent.