Federal Direct Loans
Santa Fe University expects its financial aid professionals to always maintain exemplary standards of professional conduct in all aspects of carrying out their responsibilities. Read the Santa Fe University of Art and Design Financial Aid Code of Conduct.
Many Santa Fe University students use low-interest federal loans to assist with their tuition, fee, and living costs.
Federal Direct Subsidized Loans
For: Available in whole or in part to degree-seeking undergraduate and graduate students who demonstrate financial need. The federal government pays the interest on the subsidized portion of the loan while the student is enrolled at least half time in school.
Undergraduate annual borrowing ranges from $3,500-$5,500 depending on year in school
Graduate student annual borrowing maximum: $8,500
Interest rate: 3.4% for undergraduates and 6.80% for graduate students
Total debt that can be outstanding: undergraduate borrowers $23,000; graduate borrowers $65,500 (includes amounts borrowed at undergraduate level)
Notes: Loans borrowed at a prior institution may impact your loan eligibility at Santa Fe University. Up to a 1 percent fee is deducted from each disbursement of the loan.
Federal Direct Unsubsidized Loans
For: Available in whole or in part to degree-seeking undergraduate and graduate students who either do not meet the need requirement for, or want to borrow in excess of, the amount available under the Federal Subsidized Direct Loan. The student is responsible for the interest that accrues on the unsubsidized loan, but payment can be deferred while the student is enrolled at least half time in school.
Undergraduate annual borrowing ranges from $5,500-$12,500 (less Subsidized Loan eligibility) depending on year in school and dependency status
Graduate student annual borrowing maximum: $20,500 (less Subsidized Loan eligibility)
Interest rate is 6.8 percent. The interest on this loan is your responsibility. You may choose to pay the interest while in school or have it capitalized (added to the principal).
Total debt that can be outstanding (including any subsidized debt: dependent undergraduate borrowers $31,000; independent undergraduate borrowers $57,500; graduate borrowers $138,500 (including amounts borrowed at the undergraduate level).
Notes: Loans borrowed at a prior institution may impact your loan eligibility at Santa Fe University. Up to a 1 percent fee may be deducted from each disbursement of the loan.
Undergraduate Students: Direct Loan Maximums
Grade Level |
Dependent Undergraduate Student† |
Independent Undergraduate Student |
Year 1* |
$5,500—Only $3,500 of this amount may be in subsidized loans. |
$9,500—Only $3,500 of this amount may be in subsidized loans. |
Year 2* |
$6,500—Only $4,500 of this amount may be in subsidized loans. |
$10,500—Only $4,500 of this amount may be in subsidized loans. |
Years 3–4* |
$7,500—Only $5,500 of this amount may be in subsidized loans. |
$12,500—Only $5,500 of this amount may be in subsidized loans. |
Lifetime Maximum
Total Debt from Stafford Loans and Direct Loans (in each status) |
$31,000—Only $23,000 of this amount may be in subsidized loans. |
$57,500—Only $23,000 of this amount may be subsidized loans. |
For undergraduates: Year 1 = 0–31 credits, Year 2 = 32-63 credits, Year 3 = 64-95 credits, and Year 4 = 96 credits to program completion.
† Dependent students whose parents have been denied a Federal Direct Parent Loan (PLUS) are eligible to borrow at the independent undergraduate level.
Graduate Students: Direct Loan Maximums
Time Frame |
Graduate |
|
Per Academic Year |
$20,500—Only $8,500 of this amount may be in subsidized loans. |
Lifetime Maximum
Total Debt from Stafford Loans or Direct Loans |
$138,500—Only $65,500 of this amount may be subsidized loans. Note: The graduate debt limit includes Stafford Loans and Direct Loans received for undergraduate study. |
Financial aid staff are available to help you. Email sfs@santafeuniversity.edu or call toll free (877) 397-7502.
Resources
Santa Fe University expects its financial aid professionals to always maintain exemplary standards of professional conduct in all aspects of carrying out their responsibilities. Read the Santa Fe University of Art and Design Financial Aid Code of Conduct.
