Government Loan Programs

The tables below present general information on need-based financial aid available to domestic, non-foreign graduate students. 

There are many non-need-based sources of funding that all graduate students should investigate further.  Graduate students should check UW-Madison's Office of Financial Aid and Scholarships for specific need-based funding information. 

Please note, certain types of financial aid have eligibility requirements additional to those listed below.  Be sure to research each type of need-based financial aid before applying for or accepting admission.

To meet the minimum requirements for receiving need-based financial aid, a student must:

• Be a U.S. citizen or eligible non-citizen;
• Be registered with Selective Service (if required);
• Attend a participating school;
• Working toward a degree or certificate;
• Maintain satisfactory academic progress;
• Not owe a refund on a federal grant or be in default on a federal education loan; and
• Have financial need (except for Federal Unsubsidized Direct Loan)

Additionally, students must file a Free Application for Federal Student Aid (FAFSA) to be considered for financial aid, grants and some fellowships. 

Loans (Federal)*

Program	Description	Eligibility	Terms
Federal Direct Stafford Loan, subsidized** Visit the U.S. Department of Education for more detailed information.	Federally funded.  Variable interest rate adjusted annually on July 1, capped at 8.25%. More rate information is available. See "Borrowing Maximums" chart below.	Need-based All full and half time students in a graduate degree program U.S. citizens or eligible non-citizens	Repayment is deferred and there is no interest while the student is enrolled at least half time.  Limited deferment provisions. Visit the U.S. Department of Education for more information.
Federal Direct Stafford Loan, unsubsidized** Visit the U.S. Department of Education for more detailed information.	Federally funded Variable interest rate adjusted annually on July 1, capped at 8.25%. More rate information is available See "Borrowing Maximums" chart below.	Non-need-based All full and half time students in a graduate degree program U.S. citizens or eligible non-citizens	Interest begins accruing immediately at the loan's inception.  The student can begin making payments toward interest or choose to have interest accrue (capitalize) while enrolled in an eligible degree program (see promissory note).  Repayment of principle is deferred while the student is enrolled at least half time.  Limited deferment provisions. Visit the U.S. Department of Education for more information.

*Graduate students are considered "independent" for the purpose of Federal (U.S.) need-based lending and financial aid. 

**Students accepting Direct Loans funds for the first time must complete a Direct Loan Master Promissory Note before receiving their loan funds.  A promissory note will be sent to students after they accept their loan on Visual Aid.

Combined Borrowing Maximums for Subsidized and Unsubsidized Federal Direct Loans

Graduate Students	Borrowing Maximums
First Year	$18,500 each academic year (only $8,500 of this amount can be a subsidized loan).
Second Year	$18,500 each academic year (only $8,500 of this amount can be a subsidized loan).
Third Year	$18,500 each academic year (only $8,500 of this amount can be a subsidized loan).
Total Loan Debt Limit	$138,500 (only $65,500 can be a subsidized loan); limit includes Federal Direct Loans received as an undergraduate at an institution.

 

• Community of Graduate Research Scholars
• Government Loan Programs