Changes to Loan Origination Fees for Direct Loan Borrowers
A series of mandatory across-the-board federal budget cuts known as sequestration went into effect earlier this year. These cuts affect all federal government programs, including federal student financial aid.
As a result, effective December 1, 2013, loan origination fees for Direct Loan borrowers in the 2013–14 academic year will increase slightly.
The origination fees for all loans disbursing on or after December 1 will be as follows: 1.072% for Direct Subsidized and Unsubsidized Loans and 4.288% for Direct PLUS Loans (Parent and Graduate).
The Financial Aid Office may contact you if additional information is needed. Please check your preferred e-mail for notifications.