SRFS logo  OFFICE OF THE UNIVERSITY REGISTRAR  |  STUDENT EMPLOYMENT
 

Federal Direct Loan Program
Federal Direct Loan Program
Graduate/Professional Students
 
Application Instructions
 
  1. File a FAFSA online at www.fafsa.ed.gov
  2. Complete a Master Promissory Note (MPN), unless you filed one last year. You will receive a notification in May with further instruction on filing an MPN.
 
Description

Federal student loan available to graduate/professional students
Loan funds available for periods of enrollment beginning on or after 7/1/2012 will be unsubsidized.

Eligibility
Requirements
US citizen or permanent resident
Enrolled at least half-time in degree or certificate program
Not in default on prior education loan
Annual Loan Limits
$20,500
$40,500 for Dental, Medical and Veterinary students (increased amounts may be available based on your academic year)
Aggregate Loan Limits

$138,500
$224,000 for Dental, Medical, and Veterinary students

Interest Rate
6.6% for loans disbursed 7/1/2018 - 6/30/2019
Interest begins to accrue after first disbursement for unsubsidized loans, and may be paid quarterly while in school  or capitalized
Fees 1.062% origination
Source U.S. Department of Education
Disbursement
Twice a year, at the beginning of each term
Student must be registered for classes and have tuition charges
Repayment
Unsubsidized Loans:
6 months after graduation or withdrawal from the University with the option to capitalize accrued in-school interest (add it to the total amount borrowed) or to begin interest payments while in school
Up to 10
years
May be extended through consolidation up to 30 years, depending upon the amount borrowed
Special Repayment
Provisions
Income Based Repayment
Pay As You Earn
Public Service Loan forgiveness
 
NSLDS Access:  NSLDS is the U.S. Department of Education’s central database for Title IV student aid.  Inquiries can be made to this website for Title IV loans (Direct and Perkins) and/or Pell grants.  The site displays information on loan and/or grant amounts, outstanding balances, loan statuses, and disbursements.  In order to use the NSLDS Student Access website, you will need to login with your FSA ID username and password.  If you do not have a username and password, you can create one on the site. 

The URL is https://nsldsfap.ed.gov/nslds_FAP/.   

 

Prospective Undergraduates

Parent Corner

Must Do List

Forms and Applications

Verification

Publications and Booklets

Special Policies

About SRFS

Contact Us



What would you like to do?

Pay Your Bill

Sign Up for Direct Deposit

Enroll in the Penn Payment Plan

Setup Your PennKey

Update Emergency Contacts

Update Privacy Settings

Complete Your MPN

Complete Entrance Counseling

Complete Exit Counseling

Check Loan Status

Check Financial Aid Application Status

View Financial Aid awards

Review the Student Rights and Responsibilities Statement

Order Transcripts

Register for Classes

Search Federal Work-Study Jobs

Create an I9 form

Quick Links

Penn InTouch

Penn.Pay

Penn Loan System

PennPlan online

Penn Portal

Penn's Homepage

Penn's Privacy Policy

PennBook Required Disclosures

Office of Admissions

University Registrar

Student Employment Office

Staff Services

line spacer
Small SRFS Logo
Twitter logo Facebook logo instagram logo YouTube logo
Copyright© University of Pennsylvania, Student Registration & Financial Services
  Disclaimer
Student Registration and Financial Services reserves the right to amend,
modify, or rescind any policy and to create new policies at its sole discretion.
  Policy on Equal Opportunity and Affirmative Action