The Federal Direct Student Loan Program is designed to assist a student with low-interest educational loans from the U.S. Department of Education.

Students who are eligible may request up to a maximum of $2,625 per year for the first year of undergraduate study and $3,500 for the second year of study. Repayment of the loan will begin 6 months after the borrower ceases to be enrolled at least half time (6 credit hours). The interest rate is variable but currently is capped at 8.25%.

The interest for the Federal Direct Subsidized Loans is paid by the federal government while the borrower is in school. Once the borrower has entered the repayment period, interest will begin to accrue to the borrower.

The interest on Federal Direct Unsubsidized Loans is paid by the borrowers while in school.

Federal Direct Loan monies will be sent to Sinclair from the U.S. Department of Education in at least two disbursements. Excess loan funds will be mailed to eligible students approximately three weeks after the beginning of each quarter with the exception of first-time borrowers. First-time borrowers may expect to receive their excess loan funds approximately 30 days after the beginning of the quarter.

If you are interested in applying for a Student Loan, read the Loan Application Instructions and complete the 2006-07