Federal loans, such as the Direct Unsubsidized Loan or Direct Graduate PLUS Loan, can help pay for your graduate school costs, including tuition, books, and room and board, along with other related expenses. When you take out a federal student loan, you are responsible for repaying the money you borrow, along with interest and fees. Most of the time, federal student loans have lower interest rates, lower fees, and better terms overall, as compared to private loans.
Keep in mind: Federal aid programs, including loans, are for U.S. citizens and eligible non-citizens. If you are an international student, please review the For International Students page.
To qualify for a federal loan, you must:
The interest rate on Federal Direct Loans is fixed, as set by law, and it will remain the same over the life of your loan. These loans accrue interest daily, unlike other forms of debt, and the interest begins to accrue when the money is disbursed to Teachers College.
Direct Unsubsidized Loans and Direct Graduate PLUS Loans have upfront loan fees that are taken out of each loan disbursement, so the amount that is deposited to your student account will be less than what you originally borrowed. Read more about loan fees on the studentaid.gov website.
Loan Type |
First Disbursement Date |
Interest Rate* |
Federal Direct Unsubsidized Loan |
July 1, 2023 - June 30, 2024 |
7.054% |
Federal Direct Graduate Plus Loan |
July 1, 2023 - June 30, 2024 |
8.05% |
Loan Type |
First Disbursement Date |
Loan Fee |
Federal Direct Unsubsidized Loan |
October 1, 2020 - September 30, 2024 |
1.057% |
Federal Direct Graduate Plus Loan |
October 1, 2020 - September 30, 2024 |
4.228% |
*Per federal guidelines, you will not see a change in the loan fees for loans that are disbursed for the first time between October 1, 2020 and September 30, 2024. Also, interest and loan fees are subject to change annually as set forth by the U.S. Department of Education.
Teachers College, Columbia University, in accordance with federal regulation, reports all loan borrowing, student enrollment status (such as less than half-time, half-time, or full-time), and any changes in enrollment status to the National Student Loan Data System (NSLDS) via the National Student Clearinghouse. This means that when you borrow money in the form of federal loans at Teachers College, or at any other graduate school in the U.S., then authorized agencies, lenders, and institutions will have access to this information about you, which they may use for purposes including evaluating your creditworthiness in the future.
Teachers College, Columbia University, Office of Financial Aid, code of conduct for Educational Loans prohibits: