{"id":54,"date":"2016-02-19T13:41:15","date_gmt":"2016-02-19T18:41:15","guid":{"rendered":"https:\/\/www.umw.edu\/financialaid\/?page_id=54"},"modified":"2016-02-19T13:41:15","modified_gmt":"2016-02-19T18:41:15","slug":"student-loans","status":"publish","type":"page","link":"https:\/\/www.umw.edu\/financialaid-test\/types\/loans\/student-loans\/","title":{"rendered":"Federal Direct Student Loans"},"content":{"rendered":"

Direct Subsidized Loans<\/h2>

Direct Subsidized Loans are for students with financial need. The amount you can borrow is based on your dependency status, the number of credit hours you have completed, and the amount of financial need you have based on the Free Application for Federal Student Aid (FAFSA). You are not charged interest on this loan while you’re in school at least half-time.<\/p>

Direct Unsubsidized Loans<\/h2>

Direct Unsubsidized Loans are for students who do not have demonstrated financial need.  However, the federal government does require students to complete the FAFSA. Like subsidized loans, the University of Mary Washington determines the amount you can borrow based on your dependency status and the number of credit hours you have completed. Interest accrues on the unsubsidized loan from the time it’s first paid out. You can pay the interest while you are in school and during grace, deferment, and forbearance periods, or you can allow it to accrue and be capitalized (that is, added to the principal amount of your loan). If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay because you will be charged interest on a higher principal amount.<\/p>

Direct Graduate Loans<\/h2>

Direct Graduate Loans are for students enrolled in an approved degree-seeking graduate or professional program. A student enrolled in these programs is automatically considered “independent” for financial aid purposes. This means that they only include their personal information (not parent information) on the FAFSA. Students may receive up to the institutional cost of attendance with a maximum of $20,500 per year.<\/p>