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Award amount: Information below under Direct Loan AmountÌý

Interest:ÌýTo view the most up-to-date information on the Federal Direct Loans' interest rates and fees, please visitÌý.

Payment terms: Six months after leaving school or dropping below half-time status.
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Available to undergraduates and graduates enrolled at least half-time. The borrower will pay a percentage of the loan amount as a service fee, deducted each time a loan disbursement is made. If you have remaining Direct Loan eligibility, it is possible that it can be used for Summer Sessions. Processing for summer financial aid begins in April. Contact your financial aid counselor for more information regarding eligibility. Federally funded Direct Loans come in two types: subsidized and unsubsidized.
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TheÌýSubsidized Direct LoanÌýis based on need, as determined by the FAFSA. No interest accrues while you are enrolled at least half-time and will begin accruing interest only after the six-month grace period has expired however, loans made on or after July 1, 2012, and before June 30, 2014, will accrue interest even during the six-month grace period. Beginning July 1, 2012, subsidized Direct Loans will be available to undergraduate students only.
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TheÌýUnsubsidized Direct LoanÌýis available to students regardless of need, and interest begins to accrue at disbursement. You may choose to make payments while enrolled or defer payment until you leave school.
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Direct Loan Amount

Freshmen: up to $5,500 per year (plus $4,000 per year unsubsidized forÌýindependentÌýstudents)

• Sophomores: up to $6,500 per year (plus $4,000 per year unsubsidized forÌýindependentÌýstudents)
• Juniors/Seniors: up to $7,500 per year (plus $5,000 per year unsubsidized forÌýindependentÌýstudents)
• Graduate students: up to $20,500 per year (unsubsidized only)

HOW TO APPLY:ÌýA completed FAFSA and a loan promissory note are required for both types of Direct Loans. The U.S. Department of Education is the lender for all Direct and PLUS loans through the William D. Ford Federal Direct Loan Program. New students must accept or decline Direct Loan offer(s) in Workday, in the Financial Aid section from the Finances tab.

To disburse your federal student loan(s), the following documentation is required:

INTEREST RATES:ÌýTo view the most up-to-date information on the Federal Direct Loans' interest rates and fees, please visitÌý

Disclosure:ÌýSchools must submit loan information for students and parents who enter into an agreement regarding a Title IV, HEA loan to the National Student Loan Data System (NSLDS). This data is accessible by authorized agencies, lenders, and institutions [HEOA 489 amended HEA Sec. 485B]. Borrowers may access their federal loan amount borrowed on their Dashboard after signing in toÌý

• Award amount: Cost of attendance minus other financial aid, up to $20,000 per academic year and $65,000 aggregate.*Ìý
• Interest: SeeÌý
• Payment terms: 60 days after disbursement. Borrowers can also request in-school deferments from the Department of Education.

This is a credit-based loan for parents ofÌýdependent undergraduate studentsÌýor graduate students enrolled at least half-time.ÌýThe U.S. Department of Education is the lender for all PLUS Loans through the William D. Ford Federal Direct Loan Program. The borrower will pay a percentage of the loan amount as a service fee, deducted each time a loan disbursement is made.

Effective July 1, 2026,ÌýParent PLUS Loan program will have new limits:

• Annual Limit: Parents can borrow up to $20,000 per child per year.
• Lifetime Limit: Parents can borrow no more than $65,000 total per child.

The new Parent PLUS loan limits do not apply to loans disbursed before July 1, 2026. Parents who have borrowed through the Parent PLUS loan program prior to July 1, 2026 may continue borrowing under the previous limitations (up to the full Cost of Attendance) for up to three additional academic years or until the student graduates - whichever comes first.

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Beginning July 1, 2026, the Graduate PLUS loan program will be discontinued. Graduate students who borrowed through the PLUS loan program can continue borrowing for up to three additional years or until you finish your program - whichever comes first. If you begin a new program after July 1, 2026, you will not be able to borrow under the Graduate PLUS loan program.Ìý

To disburse your Parent of Graduate PLUS Loan, the following documentation is required:

If a parent is denied a PLUS Loan, the student becomes eligible for an additional unsubsidized Direct Loan (freshmen/sophomores up to $4,000; juniors/seniors up to $5,000). A parent who is denied the PLUS Loan for credit reasons may pursue an endorser option to be approved for the loan. Applicants who are denied for credit reasons will be asked to pursue this option during the online application process.

HOW TO APPLY:ÌýTo apply for a PLUS Loan, parent borrowers and graduate students submit an application with the Department of Education atÌý. Applications for the upcoming academic year are available starting in April. The Department of Education will notify the University and the borrower of loan approval or denial.

Disclosure: Schools must submit loan information for students and parents who enter into an agreement regarding a Title IV, HEA loan to the National Student Loan Data System (NSLDS). This data is accessible by authorized agencies, lenders, and institutions [HEOA 489 amended HEA Sec. 485B]. Borrowers may access their federal loan amount borrowed on their Dashboard after signing in toÌý

After you graduate, leave school, or drop below half-time enrollment, you have a grace period of six months for Direct Loans (nine months on Perkins) before beginning to repay your loans. Your first payment is due within 60 days after your grace period. Your lender(s) will notify you of your payment due dates.

Federal regulations require that you complete aÌýÌýsession before you graduate and every time you drop below half-time status. The counseling session provides information about how to manage your student loans.

Borrowers may access their federal loan amount borrowed on their Dashboard after logging ontoÌý. ÌýInformation includes loan and/or grant amounts, outstanding balances, loan status, lender contact information and disbursements.

Several repayment plans are available. Generally, you'll have from 10 to 25 years to repay your loan, depending on which plan you choose.Ìý.

Sample student loan repayment schedule:Ìý

A student who takes $5,500 total in federal direct loans, your monthly payments would be about $58 per month over 10 years on the standard repayment plan.Ìý

You may be able to consolidate your Direct Loans, if you have at least one loan in grace, repayment, deferment, or default status. In-school status loans are not included.Ìý

The parent-borrower has the option of beginning repayment either 60 days after the loan is fully disbursed or six months after the dependent student drops to below half-time enrollment. Parent-borrowers must request deferment from their lender each year they wish to delay repayment. During this time, interest may be paid or capitalized.

If, at any time, you are having difficulty making payments, please contact the Financial Aid Office. A counselor will be happy to discuss the options available to help keep you from defaulting on your student loans.

We’ve teamed up withÌýÌýto answer all your student loan repayment questions. Solutions is a service of the nonprofit organization ECMC and is dedicated to helping students manage educational loans. Their resources are available to you free of charge. To contact a Solutions student loan repayment adviser,Ìý, or call (877) 331-3262.

Many private banks and lenders offer loans for financing educational costs. However, we recommend you exhaust all federal aid options before taking an alternative loan (federal loans are generally less expensive). A FAFSA is not required for alternative loans. Students who wish to take an alternative loan and do not complete the FAFSA must completeÌýprivate loan counselingÌýwith their financial aid counselor prior to receiving the alternative loan funds.

Award amount, interest and payment terms vary. These are credit-based loans and students must complete the lender's application process.

Lenders may require a co-borrower, that the student makes payments while in school or have other stipulations. Even if not required by the lender, students may choose to apply with a cosigner because it could reduce the interest rate.

See UTampa's alternative loan lender list for more information.

The Financial Aid Office provides this list of alternative loan lenders to assist students in identifying banks and lenders offering alternative educational loans. Students are encouraged to conduct their own research to identify the best loan options for their individual circumstances.

To determine which lenders and loan options to display, the Financial Aid Office continuously monitors lenders' updates to ensure borrower benefits and customer service adhere to our criteria. Any lenders or loan options that no longer adhere to our criteria are removed. At least three unaffiliated lenders will be presented to you at all times. Students may select any lender of their choice, including lenders not on UTampa's alternative loan lender list.

Alternative loans should not be confused with direct-to-consumer loans. Direct-to-consumer (DTC) loans are NOT certified by the school and usually have higher interest rates. The loan funds are sent directly to the student borrower and not to the school; as a result, these loan funds will not appear as expected financial aid on the student's tuition bill. Although the maximum loan amount for a DTC loan should be the cost of attendance minus other aid, without the school certification process there is no way for the school to ensure the cost of attendance is not exceeded. Other aid, including scholarship and grant funds, could be reduced or returned entirely because the cost of attendance was exceeded with a DTC loan.

For most students, traditional grant and loan programs are the best sources for financial aid, and direct-to-consumer loans should be avoided. Discuss your optionsÌýwith your financial aid counselor for assistance in making this determination.

ºÚÁÏÊÓƵ’s Financial Aid Office has developed the following code of conduct in compliance with Title IV regulations.ÌýAll counselors responsible for loans are informed annually of the provisions of this code of conduct. ºÚÁÏÊÓƵ's Financial Aid Office maintains professional relationships with all lenders. This code of conduct prohibits the following:

• Accepting financial or other benefits in exchange for displaying lenders and loan options
• Revenue-sharing arrangements with any lender
• Receiving compensation to serve on any lender board of directors or advisory boards
• Receiving gifts (including trips, meals and entertainment) from a lender, guarantor or loan servicer
• Contracting arrangement providing financial benefit from any lender or affiliate of a lender
• Directing borrowers to particular lenders, or refusing or delaying loan certifications
• Offers of funds for private loans
• Call center or financial aid office staffing assistance
• Allowing lenders to place our institution's name or logo on any of their products
• Owning lenders' stock (for those college officials who make loan decisions for our institution)