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Federal Direct Unsubsidized Loan

Through the Federal Unsubsidized Direct Loan Program, borrowers receive federal loan funds directly from the U.S. Department of Education. 

Students are responsible for paying the interest that accumulates after the loan has disbursed. The interest can be paid while in school or the accrued interest will be capitalized (added to the principal balance). Unsubsidized Stafford Loans are awarded based on grade level and financial need is not considered.

  • The interest rate for Unsubsidized loans for graduate students, disbursed between 7/1/20 and 6/30/21, is fixed at 4.30%.
  • The loan origination fee for the subsidized and unsubsidized loans disbursed between 10/1/19 and 10/1/20 is 1.059%.
  • Repayment begins six months from the date of graduation, full withdrawal or enrollment less than half-time
  • A number of repayment plans are available at
  • There is no prepayment penalty.
  • New Direct Loan borrowers at Bay Path University must complete a Master Promissory Note (MPN) and Entrance Counseling online at

Students must maintain Satisfactory Academic Progress for continued eligibility.


New students and first-time borrowers of Direct Student Loans are required to complete entrance counseling in order to receive the loan funds.  The online entrance counseling can be completed at  The Student Financial Services Office notifies students of this requirement by noting the information on the financial aid award notification through Net Partner and subsequent notifications by sending an email to their Bay Path University email account.

All federal student loans obtained by a student or parent are required to be reported to, and tracked on, the National Student Loan Data System (NSLDS).  NSLDS loan records are accessible to all authorized NSLDS users, including schools, student loan guaranty agencies, lenders, federal agencies and other authorized users.

Loan Exit Counseling

All Direct Student Loan borrowers who graduate, drop below half-time or cease enrollment are required to complete exit counseling.  The online exit counseling can be completed at  When a student graduates, drops below half-time enrollment or withdraws, an exit counseling packet is mailed to the student.

Students may access their federal loan records at

Students with federal education loans must be enrolled at least half-time to receive loan funds and to continue to qualify for in-school loan deferment.  For financial aid purposes, half-time enrollment for undergraduate students is six credits per semester.  Half-time enrollment for graduate students is six credits per semester.