Apply for Federal Direct Loans

Federal Direct Loans include Federal Unsubsidized Loans and Federal Graduate PLUS Loans. Federal loans are awarded typically awarded for Fall and Spring semesters. Summer federal direct loans are a separate process – please visit our Summer Aid page for more information.

Eligibility Information
- Be a US citizen or permanent resident and compliant with US Selective Service requirements
- Be enrolled in a degree program
- Be registered for at least half-time (6 credits per semester that are accepted towards the degree program)
- Maintain Satisfactory Academic Progress (according to their programs student handbook) at the end of each semester
- Not have an outstanding balance from a prior period of enrollment at Boston University
- Not be in default on a previous Federal Stafford, Perkins, or other educational loans
- 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 borrowed for undergraduate study.
- Glossary of Loan Terms

Federal Unsubsidized Loan

Unsubsidized Loan Information
- The maximum loan limit is $20,500 per academic year
- Unsubsidized loans begin accruing interest at the time of the loan disbursement
- Students can elect to pay the interest while in school or have it capitalized into a repayment schedule that starts six months after you leave school (grace period)
- The Standard Repayment term extends up to 10 years, with deferments available during unemployment, economic hardship, or continued education
- Loan funds are issued in two disbursements each year, typically timed to coincide with the start of each semester
- 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
- Visit the Federal Student Aid website for additional information about Federal Unsubsidized Loans
How to Apply (25-26 FAFSA)
- Create your Federal Student Aid ID via StudentAid.gov
- Complete the 2025-2026 Free Application for Federal Student Aid (FAFSA).
  
  Boston University’s FAFSA school code is 002130
- Complete a Master Promissory Note (MPN) for Subsidized and Unsubsidized Loans
- Complete Entrance Loan Counseling by select the option “I am a Graduate or Professional Student”
- Submit the 2025-2026 Questrom Unsubsidized Loan Request Form

Federal Graduate PLUS Loan

Grad PLUS Loan Information
- The Graduate PLUS Loan, is credit-based, unlike the Unsubsidized Loan
- This is a loan reserved for graduate students who have already borrowed the maximum amount of the Unsubsidized Loan
- Students may annually borrow a Direct PLUS up to the cost of the student’s education less any financial aid the student is receiving. However, students are strongly urged to borrow no more than they are able to repay.
- The credit review process does not evaluate debt-to-income ratios or credit scores. To be approved, you cannot have an adverse credit history*
- The current interest rate for PLUS loans disbursed on or after July 1, 2024 and before July 1, 2025 is 9.08% fixed
- The origination fee is 4.228% for loans disbursed after October 1, 2020 and prior to October 1, 2025
- Visit the Federal Student Aid website for additional information about Federal Graduate PLUS Loans
How to Apply (25-26 FAFSA)
- Students must submit the 25-26 FAFSA, and must apply for an Federal Direct Unsubsidized Loan prior to requesting a Federal Direct Graduate PLUS Loan
- Complete the Federal Direct Graduate PLUS Master Promissory Note
- Complete PLUS Loan Credit Counseling
  
  Only complete if you are a first-time Graduate PLUS borrowers only – students who have borrowed Federal Graduate PLUS Loans in prior years through the Direct Loan Program may have this requirement waived
- Apply by completing the Graduate PLUS Loan Application on the Federal Student Aid website