Federal Unsubsidized Loan

This is a federally financed student loan made to undergraduate and graduate students who meet specific eligibility requirements. You may borrow up to the cost of attendance minus any other financial aid received and may not borrow more than the maximum annual or aggregate (lifetime) amount. Interest is charged throughout the life of the loan. You may choose to pay the interest charged on the loan or allow the interest to be added to the loan principal.


  • Federally funded
  • Not need-based
  • Fixed interest rate
  • Subject to annual and aggregate loan limits
  • This is a loan you must repay to the U.S. Department of Education
  • Interest starts accruing upon disbursement


  • Undergraduate and graduate student
  • Must be enrolled at least half-time
  • Completed federal master promissory note required for first-time borrowers
  • Loan entrance counseling required for first-time borrowers at EMU
  • Award eligibility based on EFC/SAI, cost of attendance, enrollment and other resources
  • Award will not pay and may be canceled if enrolled less than half-time
  • Award may be adjusted or canceled if there is a change to EFC/SAI, cost of attendance, enrollment, graduation or if you receive additional resources


  • Accrued interest is billed quarterly and may be deferred (will be added to principal balance).
  • You will begin to repay your loan six months after you cease to be enrolled at least half-time. During this six-month "grace period", interest will accrue on your loan. Once the grace period expires, you will begin to repay your loan. Studentloans.gov has repayment plans and repayment estimator.
  • If you drop to less than half-time, withdraw, drop out, graduate or simply do not return to school, this information will be reported to the servicer and they will begin to count your grace period.
  • Payments will be made to the U.S. Department of Education (holder of the loan).
  • For detailed information about repayment, deferments, forbearance and other frequently asked questions, go to the student loan government site
  • To obtain information about consolidating your Federal loans, visit StudentAid.gov. The interest rate for a consolidation loan is the weighted average of the interest rates on the loans being consolidated and is fixed for the life of the loan.
  • It is important that you maintain a "very important papers file" and keep copies of your award notices, MPN, borrower's rights and responsibilities and the loan disclosure statement in one place as they provide the details of your loans, and your rights and responsibilities as a student loan recipient.

For More Information

Contact us or the Federal Student Aid system.

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