Financial Aid

Federal Loans

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Federal Loans

Please note effective July 1, 2026 the GradPLUS loan terms will be changing. Recent legislation, the FY2025 Budget Reconciliation Act (Public Law 119-21) (also known as the One Big Beautiful Bill Act), has introduced significant changes to the Federal Direct Loan program. These adjustments will impact how students and families at Brown University borrow to finance their education. To help you understand these changes, see a breakdown below on what’s new, who is affected, and when these changes take effect. To help you understand these changes please visit https://sfs.brown.edu/loans/federal-loans

The Higher Education Opportunity Act of 2008 (HEOA) requires that institutions participating in the federal student loan programs develop, publish and enforce a code of conduct with respect to students loans.

The following link details the university's code of conduct: Brown University Code of Conduct for Educational Loans

For information about processing loans please visit the University loan office website.

Students may apply to borrow two federal loans by filling out the FAFSA. These federal loans are the Direct unsubsidized and Graduate Plus loans. The most up-to-date information on the terms of federal loans can be found on this page on the Department of Education's site.

Please visit studentaid.gov to review the status of your federal loans and for more information on your loan servicers. Click here for guidance on how to locate your federal loan servicer. 

Federal Direct Unsubsidized Loan

Lender: US Department of Education; promissory note/application forms are provided by the Brown Loan Office
Based on Need: No, but may not exceed the cost of attendance for the year alongside other aid
Annual Borrowing Limit: Up to $50,000
Aggregate Borrowing Limit: $224,000 (less aggregate subsidized Direct loan amount)
Loan Fees: 1.057% on or after 10/01/20 
Interest Rate: 7.94% AY25-6
Interest Subsidized In School: No
Interest Subsidized During Grace: No
Interest Subsidized During Deferment: No
Deferment Options: At least half-time student status; unemployment or economic hardship (up to 3 years)
Grace Period: 6 months
Repayment Requirements: Information available at this link.
Prepayment Penalties: None

Federal Graduate PLUS Loan

Lender: US Department of Education; promissory note/application forms at studentaid.gov. Available May 1. Best time to apply is after June 15. A credit check will be performed and is kept on file for 180 days.
Based on Need: No, but may not exceed the cost of attendance for the year alongside other aid
Annual Borrowing Limit: No limit
Aggregate Borrowing Limit: No limit
Loan Fees: 4.228% on or after 10/01/20
Interest Rate: 8.94% for AY25-6
Interest Subsidized In School: No
Interest Subsidized During Grace: No
Interest Subsidized During Deferment: No
Deferment Options: At least half-time student status; unemployment or economic hardship (up to 3 years)
Grace Period: 6 month automatic deferment from time of separation if issued after 6/08
Repayment Requirements: Information available at this link.
Prepayment Penalties: None

Please note effective July 1, 2026 the GradPLUS loan terms will be changing. Recent legislation, the FY2025 Budget Reconciliation Act (Public Law 119-21) (also known as the One Big Beautiful Bill Act), has introduced significant changes to the Federal Direct Loan program. These adjustments will impact how students and families at Brown University borrow to finance their education. To help you understand these changes, see a breakdown below on what’s new, who is affected, and when these changes take effect. To help you understand these changes please visit https://sfs.brown.edu/loans/federal-loans