Financial Aid Office

Federal Sequester Impacts Federal Loan Origination Fees

Effective December 1, 2013 the Stafford origination fees are increasing from 1.051% to 1.072%. The Graduate PLUS and PLUS loan origination fees are increasing from 4.204% to 4.288%. This change effects new loans where the first disbursement occurs on or after December 1, 2013.

 

Direct Loan Program Loan Fee Amounts
Loan Type
Impacted Loans
Loan Fee Percent
Fee on a Loan Amount Of
Direct Subsidized Loans and
Direct Unsubsidized Loans
First Disbursed Prior to
 July 1, 2013
 (No Sequester)
1.00
Percent
$55.00 on a
$5,500 loan
First Disbursed on or
after July 1, 2013 and Before
November 30, 2013
1.051
Percent
$57.80 on a
$5,500 loan
First Disbursed on or
after December 1, 2013 and
Before September 30, 2014
1.072
Percent
$58.96 on a
$5,500 loan
Direct PLUS Loans
(Parent and Grad/Prof
Student)
First Disbursed Prior to
 July 1, 2013
(No Sequester)
4.00
Percent
$400 on a
$10,000 loan
First Disbursed on or
after July 1, 2013 and Before
November 30, 2013
4.204
Percent
$420.40 on a
$10,000 loan
First Disbursed on or
after December 1, 2013 and
Before September 30, 2014
4.288
Percent
$428.80 on a
$10,000 loan
Loan fee calculations that result in more than two decimal points must be
truncated to two decimal points (cents).