Is there a charge for this loan?
Yes, in addition to the interest, you pay a loan fee of 1.0% of the loan amount. This fee will be deducted prior to the loan being disbursed.
Direct Loans also offers an up-front interest rebate for Direct Subsidized and Unsubsidized Loan borrowers. The rebate amount is equal to 0.5% of the loan amount borrowed. The student must make all of your first 12 required monthly payments on time or the rebate amount will be added back to the principal balance of their loan.