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Federal Direct Loan

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PLEASE NOTE: This loan application applies to Summer 2021, Fall 2021, and Spring 2022. Please ensure you indicate the term(s) for which you are requesting funds on your application. Borrowers for Summer 2021 must have a completed 2020-2021 FAFSA on file.

Annual Loan Limits

Dependent Undergraduate Students

Independent Undergraduate Students (and dependent students whose parents are denied a Parent PLUS Loan)

First Year

Subsidized	$3,500
Unsubsidized	$2,000
Total	$5,500

Subsidized	$3,500
Unsubsidized	$6,000
Total	$9,500

Second Year

Subsidized	$4,500
Unsubsidized	$2,000
Total	$6,500

Subsidized	$4,500
Unsubsidized	$6,000
Total	$10,500

Third Year & Beyond

Subsidized	$5,500
Unsubsidized	$2,000
Total	$7,500

Subsidized	$5,500
Unsubsidized	$7,000
Total	$12,500

The actual loan amount you are eligible to receive each academic year may be less than the annual loan limit. Speak with an officer for individual borrowing eligibility. If your parent has been denied a Plus loan please contact our office regarding requests for additional unsubsidized funding.

Interest Rate = 3.73% for loans disbursed after July 1, 2021 and before July 1, 2022.
Origination Fee for loans disbursing before October 1, 2021 is 1.057% Calculate Fee
Students can estimate post-graduation monthly loan repayment using the Repayment Estimator

How to Apply:

Complete the 2021-2022 FAFSA Application
Complete Federal Direct Loan Entrance Counseling and Master Promissory Note
Complete a Federal Direct Loan application:

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*Applications submitted will be processed within 7-10 business days for students with completed financial aid files. Please allow adequate time for processing when submitting your request.

*If your file is incomplete please submit the required documents as soon as possible. Loan applications for incomplete files will not be processed until all applications and documents are received.

*Summer loans are processed on a rolling basis.

*If you have applied for institutional financial aid, we will process your loan request after you have received a financial aid eligibility letter.

Related FAQs

What is the difference between subsidized and unsubsidized loans?

Interest for subsidized loans begins accruing after the six-month grace period (post-graduation or during a period of less-than-halftime enrollment longer than six months). If you are unsure about your eligibility, please contact our office.

Unsubsidized Loans begin to accrue interest once the loan has disbursed to the student account.

Is there a way to increase my subsidized loan eligibility?

Subsidized Loan eligibility draws from the same pool of federal need as Federal Work Study. You may be able to reduce your Federal Work Study allotment in order to increase your Subsidized Loan amount.

Can I purchase a computer with my financial aid?

The cost of a computer is not part of the student budget. Student loans are available to cover a computer that is purchased during the academic year. If you are interested in borrowing a loan to cover the cost of a computer please contact us at ugrad-finaid@columbia.edu.

If you have an outside scholarship that exceeds the amount of your Student Contribution (SC) and Work Expectation, the cost of the computer may be able to be covered by the scholarship.

Whether borrowing a loan or receiving an outside scholarship to cover the cost, you will be asked to provide a receipt of the purchase.

How do I pay for books, travel, and personal expenses?

Student’s individual expenses for books, travel, and other personal expenses vary. In our academic year budget we use average figures to reflect the cost students and families can expect to incur. Many students will subsidize these expenses from summer and academic year earnings, savings, parental assistance, and other financing options.