Columbia Financial Aid and Educational Financing

Federal Direct Loan

Home / Federal Direct Loan / Federal Direct Loan

PLEASE NOTE: It is past the deadline to apply for a Federal Direct Loan for the 2019-2020 Academic Year. The application below applies only to Summer 2020, Fall 2020 and Spring 2021.

Annual Loan LimitsDependent Undergraduate StudentsIndependent 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.

  • Interest Rate = 2.75% for loans disbursed after July 1, 2020.
  • Origination Fee for loans disbursing before October 1, 2020 is 1.059% Calculate Fee
  • Students can estimate post-graduation monthly loan repayment using the Repayment Estimator

How to Apply:

  1. Complete the 2020-2021 FAFSA Application
  2. Complete Federal Direct Loan Entrance Counseling and Master Promissory Note
  3. Complete a Federal Direct Loan application:

Apply Now

*Applications submitted will be processed within 7-10 business days for students with completed
financial aid files. 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.