Direct Loans

Direct Loans

Federal Direct Loans

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

Interest rate: 4.29 percent for undergraduates

Total debt that can be outstanding: undergraduate borrowers $23,000

Notes: Loans borrowed at a prior institution may impact your loan eligibility at Santa Fe University. Up to a 1.068 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

Interest rate is 4.29 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 1.068 percent fee may be deducted from each disbursement of the loan.

Undergraduate Students: Direct Loan Maximums
Total Debt from Stafford Loans and Direct Loans (in each status)
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.

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 $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.

Dependent students whose parents have been denied a Federal Direct Parent Loan (PLUS) are eligible to borrow at the independent undergraduate level.

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.

  • Applying for financial aid
  • The Guide to Federal Student Aid Funding Education Beyond High School, a comprehensive guide (English and Spanish)
  • Determine your monthly loan repayment