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 in 2013. These cuts affect all federal government programs, including federal student financial aid.
As a result, effective October 1, 2014, loan origination fees for Direct Loan borrowers in the 2014-2015 academic year will increase slightly.
The origination fees for all loans disbursing on or after October 1 will be as follows: 1.073% for Direct Subsidized and Unsubsidized Loans and 4.292% 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.