Student Loan Programs

Federal Direct Loan

UNM participates in the Federal William D. Ford Direct Loan programs. Below are the types of loans you are considered for and possibly offered upon completing your FAFSA and your Financial Aid file.

Direct Subsidized Loan

  • Based on financial need
  • Undergraduate students only
  • Loan origination fee varies by year, currently 1.069%
  • Interest does not accrue while at least half time in-school
  • Repayment begins six month after you graduate, drop below half time, or withdraw. 

Direct Unsubsidized Loan

  • Are not based on financial need
  • Loan origination fee varies by year, currently 1.069%
  • Interest accrues while you are in school or in deferment
  • Repayment begins 6 months after you graduate, drop below half time, or withdraw.

Direct PLUS Loans

  • Parent of a dependent student can borrow for the student.  Follow the instructions on how to apply.
  • Graduate student eligible for GradPLUS.  Follow the instructions on how to apply.
  • This loan requires a credit check. If it is determined that you have an adverse credit history there is a way to appeal the decision, please read the ‘Options for PLUS Denial’ in the How to Apply section below.
  • Interest does accrue while student/borrower is in school or in deferment.
  • Repayment begins 6 months after student/borrowers graduates, drop below ½ time.
  • You may borrow up to the full Cost of Attendance, less other financial aid received.

Interest Rates and Fees

  • Interest rates are fixed, based upon the date of the first disbursement of the loan
  • Click here for current interest rates and fees for each type of Federal Direct Loan options for PLUS Denial

Loan Limits

  • College of Nursing
  • College of Pharmacy
  • MD
  • Health Professions & Public Health Programs
  • College Population Health