Types of Direct Loans (current loan recipients only)
An overview of Direct Loan types and their annual and aggregate limits.
Types of US Federal Direct Loans (Direct Loans), interests and amounts vary depending on whether a student is an undergraduate or a graduate.
Please note, the University is currently unable to consider new loan applications, or applications from students who have not been enrolled continuously and receiving direct loans before 31 March 2023 at the University of Auckland.
For undergraduates
Types of Direct Loan | Loan details |
---|---|
Direct Subsidised Stafford Loans (Direct Subsidised Loans) |
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Direct Unsubsidised Stafford Loans (Direct Unsubsidised Loans) |
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Direct Parent PLUS Loan |
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*These rates apply to all Direct Loans made on or after 1 July 2023 and before 1 July 2024.
**The fee applies to all Direct Loans first disbursed on or after 1 October 2019.
For full information, see Interest Rates and Fees for Federal Student Loans.
For graduates
Types of Direct Loans | Loan details |
---|---|
Direct Unsubsidised Loan |
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Direct PLUS Loan |
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*These rates apply to all Direct Loans made on or after 1 July 2023 and before 1 July 2024.
**The fee applies to all Direct Loans first disbursed on or after 1 October 2019.
For full information, see Interest Rates and Fees for Federal Student Loans.
Annual limits for Direct Subsidised and Unsubsidised Loans (in USD)
Dependent undergraduates* | Subsidised Loan | Total Subsidised & Unsubsidised Loans |
---|---|---|
First year | US$3,500 | US$5,500 |
Second year | US$4,500 | US$6,500 |
Third year and beyond | US$5,500 | US$7,500 |
*Excluding dependent students whose parents cannot borrow Direct Parent PLUS Loan.
Independent undergraduates** |
Subsidised Loan | Total Subsidised & Unsubsidised Loans |
---|---|---|
First year | US$3,500 | US$9,500 |
Second year | US$4,500 | US$10,500 |
Third year and beyond | US$5,500 | US$12,500 |
**Including dependent students whose parents cannot borrow Direct Parent PLUS Loan.
Graduate |
Subsidised Loan | Total Unsubsidised Loans |
---|---|---|
First year | Not applicable | US$20,500 (unsubsidised only) |
Aggregate limits for Direct Subsidised and Unsubsidised Loans (in USD)
Student |
Subsidised Loan | Total Subsidised & Unsubsidised Loans |
---|---|---|
Dependent undergraduate* |
US$23,000 | US$31,000 |
Independent undergraduates** |
US$23,000 | US$57,500 |
Graduate |
US$65,500 | US$138,500 |
*Excluding dependent students whose parents cannot borrow Direct Parent PLUS Loan.
**Including dependent students whose parents cannot borrow Direct Parent PLUS Loan.