University of Delaware

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Federal Aid Updates

Summary of Changes:

Important Changes to Federal Financial Aid for the 2016-2017 Academic Year:

  • Undergraduate Federal Direct Subsidized and Unsubsidized Loan interest rate will be fixed at 3.76%.
  • Graduate Unsubsidized Loan interest rate will be fixed at 5.31%.
  • Direct PLUS Loan interest rate will be fixed at 6.31%.
  • Origination Fees on the Federal Direct Subsidized and Unsubsidized Loan is set at 1.068% and will increase to 1.069% effective October 1, 2016 due to the Budget Control Act of 2011.
  • Origination Fees on the Federal Direct PLUS Loan is set at 4.272% and will increase to 4.276% effective October 1, 2016 due to the Budget Control Act of 2011.
  • New Loan Borrowers are limited to a maximum of 6 years of Federal Subsidized Loans.
  • The Federal Perkins Loan Extension Act of 2015 requires schools to provide the following disclosures to each Perkins Loan borrower.

We recommend you review these changes carefully and plan ahead for your educational future. If you have any questions or concerns, please contact us using our feature.