Direct Unsubsidized Loans are available regardless of financial need.
Interest begins to accrue on the loan from the date of disbursement (i.e., while you are enrolled).
If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, interest will accrue and be added to the principal amount of your loan.
Repayment on the loan (principal and interest) begins six months after your half-time enrollment status ends.
Graduate students can borrow up to $20,500 in Direct Student loans per academic year.
Students doing only undergraduate coursework have a maximum eligibility of $12,500 per academic year and up to $5,500 of these loan funds can be subsidized.
These are maximum amounts and may vary depending on your need and/or cost of education.
To qualify for a loan, you must be enrolled at least half time:
For graduate students (MBA, MAEd and license+master's programs), this equates to at least three credit hours per term.
For undergraduate students (earning a teaching licensure or second bachelor's degree), this equates to at least six credit hours per term.
You also must be registered half time by the end of the first week of the term AND on the date of disbursement.
Loan funds are distributed evenly among your half-time semesters in the given academic year and disbursed electronically at the beginning of each term directly into your BW billing account. If you only attend one semester in an academic year, the funds are split into equal disbursements at the beginning of the term and the middle of the term.
Graduate and professional students are able to finance the remaining cost of their education through the Federal Graduate and Professional Student PLUS Loan Program.