Consolidating subsidized and unsubsidized student loans

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Federal Direct Loans are available to students who apply for financial aid using the FAFSA.

The interest rates are determined each June for new loans being made for the upcoming award year.

For loans originated on or after October 1, 2016 and before October 1, 2017, the origination fee was 1.069%.

Federal regulations specify the maximum Federal Direct Loan amount any student can borrow each academic year, depending upon grade level.

Actual eligibility is specified on the University of Maine Award Notification and may be less than the annual maximum: NOTE: Dependent students whose parents are denied a Federal Direct PLUS Loan are eligible for the independent student limits if there is a valid Direct PLUS Loan denial (dated within the last year) on file with our office.

For an in-depth loan repayment calculator, click here.

Some students may want to consider consolidating their federal student loans into a Consolidation Loan.

This is an option that has both pros and cons, so be sure you investigate this option carefully.

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