Direct Subsidized Loans
Direct subsidized loans are awarded on the basis of financial need to students. If you are qualified for a subsidized loan, no interest is charged while you are attending school at least half-time or during authorized periods of deferment.
Direct Unsubsidized Loans
An unsubsidized loan is not awarded on the basis of financial need.
If you qualify for an unsubsidized loan, interest will be charged from the time the loan is disbursed until it is paid in full. You can choose to either pay the interest or allow the interest to accumulate and capitalize. In other words, the interest will be added to the principal amount of the loan.
How to apply:
- Complete the Free Application for Federal Student Aid (FAFSA) and a Hunter College Request for a Direct Student Loan.
- The Request for a Direct Student Loan may be found at the “Printable Forms” part of the Office of Financial Aid website, or you may pick up the request at the OneStop Office in Room 217, North Building.
Direct PLUS/Parent PLUS Loans
The parents (biological, adoptive, or in some cases, step-parent) of dependent students may borrow funds from the Federal Direct Loan Program to help pay for the cost of their child’s education. Loan amounts vary and are determined by the Office of Financial Aid at Hunter College. The maximum loan amount is the difference between the cost of attendance and the total amount of financial aid and scholarships awarded to the student. To apply for a Parent PLUS Loan, parent borrowers must:
- have a valid FAFSA for the academic year (cannot be pending, verification must be completed if selected).
- complete a Request for a Federal Direct PLUS Loan application.
- complete a Federal Direct PLUS Loan MPN in order to receive their Direct PLUS Loan funds. This form must only be completed once during the student’s time at Hunter College.
- complete a Credit check that is approved by the Department of Education and the Direct Loan Servicer.
The Office of Financial Aid at Hunter College only originates loans for applicants after the student has registered for classes, since the number of credits registered for determines the amount of the approved loan.
The loan record is first sent for a credit check before processing continues. If credit is approved, the loan record is sent from CUNY to the Department of Education for approval to disburse the loan funds and to the Direct Loan Servicer, who checks the promissory note status.
Federal Direct PLUS Loan funds are disbursed by check, which will be mailed to the parent from the College’s Bursar’s Office. (Note: Direct Deposit is not available to parents who borrow Federal Direct PLUS Loan funds.)
If the student has any outstanding charges owed to the College for the current year, the Bursar’s Office will deduct the amount of those charges from the loan funds before the disbursement is made.
How Much You Can Borrow
Annual Loan Limits for Direct Subsidized Loans and Direct Unsubsidized Loans
First Year (Freshman)
Dependent Undergraduate Students: $5,500 (maximum $3,500 subsidized)
Independent Undergraduate Students: $9,500 (maximum $3,500 subsidized)
Second Year (Sophomore)
Dependent Undergraduate Students: $6,500 (maximum $4,500 subsidized)
Independent Undergraduate Students: $10,500 (maximum $4,500 subsidized)
Third Year (Junior) and Beyond
Dependent Undergraduate Students: $7,500 (maximum $5,500 subsidized)
Independent Undergraduate Students: $12,500 (maximum $5,500 subsidized)
Aggregate Loan Limits: Maximum Total Outstanding Loan Debt
Dependent Undergraduate Students: $31,000 (maximum $23,000 subsidized)
Independent Undergraduate Students: $57,500 (maximum $23,000 subsidized)
Applying for a Federal Direct Loan
The following steps must be completed in order to submit a Direct Loan Application for Undergraduate Students:
- Have a valid FAFSA for 2016-2017 (cannot be pending, verification must be completed if selected).
- Completed Entrance Counseling (if required).
- Must be registered for at least 6 credits.
- Completed Master Promissory Note (if required).
- Complete the Direct Loan Processing Form on CUNYfirst.
To complete the Direct Loan Processing Form:
- Log into CUNYfirst.
- Select HR/Campus Solutions from the left menu.
- Navigate to Self Service followed by Student Center.
- In the Finances section, click the Direct Loan Processing Form link.
- For Institution, select HTR01.
- For Aid Year, select the year you’ll be attending Hunter.
- Complete the form and submit online.
- Allow 20 business days for processing.
Graduate students will be pre-packaged for the Direct Stafford Loans on CUNYfirst. Graduate students can accept or decline their awards on CUNYfirst. For more information, visit Graduate Loans.
Note: Advanced Certificate students are not eligible for federal loans.
Before students can receive Federal Direct Stafford Loan funds, students at Hunter College are required to complete the online Federal Direct Loan Entrance Counseling, as well as complete a Federal Direct Loan Master Promissory Note (MPN). The entrance counseling and the MPN can be completed at www.studentloans.gov.
If you have already submitted a Direct Loan Application for the current Academic Year and would like to increase your loan, you can submit a William D. Ford Direct Change Request Form to the Office of Financial Aid.
If you would like to reduce or cancel your loan you can submit a William D. Ford Direct Loan Change Request Form to the Office of Financial Aid.