Federal Direct Loan Fee and Upfront Interest Rebate

The federal Direct student loan has an origination fee equal to approximately one percent of the amount borrowed. The loan fee on the federal Direct parent PLUS loan is approximately four percent. The fee is deducted from the loan funds the College receives. The loan fee is kept by the U.S. Department of Education.   

Effective July 1, 2012, the U.S. Department of Education no longer offered borrowers the up-front interest rebate on loans borrowed on or after July 1, 2012.

For more information about the loan rebate, call your loan servicer.