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Origination Fee Changes for Direct Sub/Unsub, Parent PLUS, and Grad PLUS Loans

Due to the government sequester that went into effect on March 1, 2013, Direct Sub/Unsub, Parent PLUS, and Graduate PLUS loans first disbursed on or after October 1, 2016 and prior to October 1, 2017 will have a new origination fee. This will include any loans not already disbursed and any new loans awarded after this date.

The loan origination fees are:

Table of Origination Fees by Loan and Date

Loan Program

Fees for loans disbursed on or after Oct 1, 2015 and before Oct 1, 2016

Fees for loans disbursed on or after Oct 1, 2016 and before Oct 1, 2017

Direct Subsidized/Unsubsidized Loans 1.068 percent 1.069 percent
Direct Parent PLUS Loans 4.272 percent 4.276 percent
Direct Graduate PLUS Loans 4.272 percent 4.276 percent

 

How Your Loans Will be Affected

  1. You will not be able to accept your Direct loan using LionPath from Wednesday, September 28 October 5–6 (updated 10/4).
  2. Your disbursement may be slightly delayed. Disbursements on any federal loans will stop the night of Friday, September 30 and resume October 5–6 (updated 10/4).
  3. Awarding of new loans will stop Friday, September 23 and resume October 5–6 (updated 10/4).

 

Follow Up Actions

If you have previously accepted your Direct loan but it has not yet disbursed, then your loan will be automatically reinstated after October 5 (updated 10/4).

If you did not accept your Direct loan, you can accept it in LionPATH.

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