Federal Direct Loans

The primary loan source for students is the Federal Direct Loan program.

Federal Direct Unsubsidized Loan

  • Annual limit $40,500 – $47,167
  • Repayment begins six months after graduation, withdrawal or if you drop below half time enrollment
  • Fixed rates
  • Origination fees may be deducted from your loan prior to each disbursement
  • Not based on financial need
  • Cumulative debt cannot exceed $224,000

Federal Graduate PLUS Loan

  • Cost of attendance less any financial received in an academic year
  • The student should utilize all Federal Direct Unsubsidized loan funding first
  • Credit-based loan – no adverse credit history
  • May require a cosigner
  • Fixed rates
  • Not based on financial need

The amount a student is eligible to borrow is based on criteria defined by the U.S. Department of Education, the KYCO cost of attendance and the student’s level of federal loan indebtedness.


Private Student Loans

A private student loan is not a federal student loan, but is funded through a private bank or other lending institution. Students are encouraged to utilize all Federal Direct Loans options before applying for private loans. Students who wish to borrow a private loan may visit FASTChoice to learn more about the loan options that are available. The student is free to choose any lender.

The University of Pikeville does not rank or recommend any lender.