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Crummer Graduate School

Federal Direct Loans

A Federal Direct Loan is a low interest rate loan for students that can be used to help pay for your college education. Rollins has established a Student Loan Code of Conduct

Interest Rates

Direct Unsubsidized loans for graduate borrowers first disbursed on or after July 1, 2021 will have a fixed interest rate of 5.28%.

Loan Fees

Direct Unsubsidized loans for graduate borrowers first disbursed on or after October 1, 2020 will have an origination fee of 1.057%. This fee covers the administrative cost of the loan. 

Borrowing Limits

Graduate Annual Limits (Unsubsidized) Total: $20,500

In addition to the annual borrowing limits, there is also an aggregate, or cumulative, lifetime borrowing limit.

Graduate Lifetime Limits (Unsubsidized) Total: $138,500


Repayment on the principal begins six months after graduation, leaving school, or dropping below half-time status. There are multiple repayment plans ranging from 10 years to 30 years.

Federal Direct Loan Entrance and Exit Counseling

New federal Direct Loan recipients are required to complete entrance counseling. New federal Direct Loan borrowers are notified and typically complete entrance counseling online as they sign the Master Promissory Note (MPN).

Exit counseling is required for all students who have received a federal Direct Loan or Graduate PLUS loan and who are expected to graduate or will not be attending Rollins at least half-time. An exit interview is your opportunity to review the amount of your loans and your rights and responsibilities in repaying these loans.

Federal Direct Borrower's Rights and Responsibilities

Remember that the MPN certifies your loans for the maximum amount you are eligible to borrow. Because you may accrue debt with each year of your education, you should be certain that you need the full amount of your education loan each year. You can decline or reduce your loan amount each year.

You are required to repay education loans, even if you do not finish your academic program or your academic program does not meet your expectations.

You are responsible for notifying your school and lender if you have received student loans from more than one lender.

You must use money received from education loans for education-related expenses only.

You must notify your lender in writing of:

  • Name or address changes
  • Failure to enroll at Rollins
  • Failure to enroll on at least a half-time basis or for the loan period certified
  • Withdrawal from school or reduction of attendance to less than half time
  • Transfer from one school to another
  • Graduation

If you meet the eligibility requirements, you have a right to repayment deferments, which suspend principal loan payments for specified periods of time.