All students who complete a FAFSA are eligible to receive the Federal Direct Unsubsidized Loan. Once you accept the loan, you must complete an entrance interview, sign a master promissory note, and fill out a loan request form. The funds will then be disbursed automatically to your student account at the beginning of each term. NOTE: The Department of Education charges a 1.068% origination fee on this loan, which will be deducted prior to the funds being disbursed.

In addition to the Federal Direct Unsubsidized Loan, you may choose to borrow either a Federal Direct Graduate PLUS Loan or a private educational loan. The maximum amount you may borrow for either loan is listed under the Alternative Eligibility fund in your award letter.

The Federal Direct Graduate PLUS Loan is a fixed interest loan program that enables graduate students to borrow directly from the U.S. Department of Education to help pay for their educational expenses. This loan, which is based on credit-worthiness, requires a separate entrance interview, master promissory note, and loan request form. For more information, go to Questions and Answers About Direct PLUS Loans for Graduate and Professional Students. If you are approved for a PLUS loan, the funds will be disbursed automatically to your student account at the beginning of the term. NOTE: The Department of Education charges a 4.272% origination fee on this loan, which will be deducted prior to the funds being disbursed.

If you have any questions about the process, please do not hesitate to reach out to the Office of Financial Aid at swfinaid@columbia.edu or 212-851-2293; or make an appointment to speak to one of us.