Federal Direct Unsubsidized Loan
The federal Direct Unsubsidized Loan is available and is not based on financial need. The student is responsible for accrued interest, but may defer interest payments until graduation.
Terms are subject to change each academic or fiscal year. The federal direct loan servicer will mail the borrower a disclosure statement indicating the exact loan terms.
The terms include:
- Loan limit for Mayo Clinic Graduate School of Biomedical Sciences: $10,000 annually
- Cumulative loan limits (total limit for subsidized and unsubsidized loans): $138,500
- Interest rate: Fixed; see specific rates
- Number of disbursements: Four per academic year
- Repayment term: 10-year standard, with a minimum monthly payment of $50
- Origination fee: See specific fees
Feb. 10, 2015