Graduate Students: Click here for additional information regarding direct student loans.

The lender is the U.S. Department of Education rather than a bank or other financial institution. There are two types of Federal Direct Student Loans…

NOTE: There are additional steps before your Federal Direct Student Loan will disburse. Click here.

Additional Eligibility Requirements

To be considered for a Federal Direct Student Loan, you must:

• Complete a Free Application for Federal Student Aid (FAFSA) every year. Your FAFSA must be received and processed by the federal processor;
• Be enrolled at least half-time in an eligible program of study (six undergraduate hours per semester for undergraduate students, five graduate credit hours per semester for graduate students);
• Not be in default on a federal student loan;
• Be maintaining Satisfactory Academic Progress for Financial Aid Recipients; and,
• Be a US citizen or eligible non-citizen.

Benefits of Federal Direct Student Loans

• Secured funding from the government
• Deferred repayment.
• Ability to complete the Master Promissory Note online.
• Electronic disbursement of funds.
• Flexible repayment plans.

Loan Limits for Each Year

The amount you can borrow per academic year is based on several factors, including federal limits, your dependency status and grade level.
Your total financial aid, including Federal Direct Student Loans, cannot exceed the school’s cost of attendance. Your USF award offer will include the amount you are eligible to borrow, but you are not required to borrow that full amount. The loan limits indicated in the chart below are the federal maximums that you can receive during two semesters of enrollment. 

If you are a dependent student, you cannot borrow more than the base amount unless your parent was denied a Federal Direct PLUS Loan, in which case you may borrow an additional unsubsidized loan up to the total allowed for your grade level.

Cumulative Total Loan Limits

Federal regulations set aggregate, or total, loan limits in addition to the annual loan limits. You cannot borrow more than the aggregate loan limit for all subsidized and unsubsidized loans at all schools.

Interest Rates

All current interest rate information can be found on our interest rates page.

Disbursement Process

All payments you owe to the University are charged to your USF student account. Your student account is maintained by the University Controller's Office (UCO). You cannot make deposits or withdrawals on your student account.

• All available funds are disbursed to your student account each term after the drop/add period ends.
• All current term charges posted to your student account will be deducted.
• If all current term charges have been paid and a credit balance results, the remaining funds will be eDeposited to your personal bank account (if you have subscribed via OASIS). If you have not subscribed to eDeposit, UCO will mail a check to the local address listed in OASIS.

If your disbursement includes Federal Direct Student Loan funds that you do not wish to keep, you have 14 calendar days from the date of the disbursement to see a financial aid advisor to return the funds. Federal regulations require the return of funds from uncashed checks to the Federal Student Aid Programs. Sign up for eDeposit in OASIS to avoid this.

Loan Payment After School

Monitor how much you borrow at the National Student Loan Data System (NSLDS) to ensure that you don’t reach your aggregate limit before you complete your program and to see the total amount you have borrowed. Click here for more information on repayment and repayment calculators.