William D. Ford Federal Direct Loan Program
The Federal Direct Subsidized/Unsubsidized Loan Program was created to make long-term, low interest loans available to students to assist in financing their educational expenses. This is an entitlement program. All students who otherwise meet the eligibility requirements may borrow Direct Subsidized/Unsubsidized loans. The William D. Ford Direct Loan Programs are administered by the Department of Education and funded by the US Department of Treasury

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Important Facts
Eligible law and graduate students may borrow up to $20,500 per academic year in the Federal Direct Unsubsidized Loan Program The maximum annual and aggregate loans that a student can borrow depends on their program. Total aggregate borrowing in this program cannot exceed $138,500 for a graduate student, including any undergraduate borrowing.

Loan amounts for undergraduate students depend on your grade level, dependency status and previous borrowing. he interest on a portion of the loan may be subsidized by the federal government dependent upon demonstration of sufficient financial need by the borrower. Amounts in excess of the student's computed financial need are unsubsidized. In addition, undergraduate student may access $2,000.00 in Unsubsidized loan funds. The maximum aggregate loan amount borrowed by an undergraduate student is $57,500.00

Interest Rate and Fees
The Federal Direct Loan Program sets interest rates on an annual basis and the rate assigned at disbursement is fixed for the life of the loan. Interest rates are fixed by the Department of Education based on a rate formula that uses the “high yield of the 10 year Treasury Bill rate sold at the prior to June 1plus factor (add-ins) points. The rates are capped and cannot exceed the cap regardless of the formulas results. Interest rates are set in June for loans disbursed on or after July 1. The Chart below shows the rate formulas and caps:

Loan Type Rate Formula Cap
Undergraduate Subsidized/Unsubsidized Loans T-bill + 2.05% 8.25%
Graduate Unsubsidized Loans T-bill +3.60% 9.50%
PLUS Loans (Graduate and Parent) T-bill + 4.60% 10.50%

The Federal Direct Unsubsidized loan charges a fixed interest rate of 6.21% for loans disbursed July 1, 2014 to June 30, 2015 to graduate/professional students for the Federal Direct Unsubsidized Loan. Undergraduate students are charged a fixed interest rate of 4.66% for Subsidized and Unsubsidized loans disbursed between July 1, 2014 and June 30, 2015. All Federal Direct Subsidized/Unsubsidized Stafford loans are charged a 1.073% origination fee as of October 1, 2014. Origination fees and Interest rate formulas may change due to congressional action.

Application Process
Incoming Students and New Borrowers: All incoming students and new borrowers must complete a Federal Direct Subsidized/Unsubsidized Loan Master Promissory Note (MPN) at https://studentloans.gov for the 2014-2015 academic year if they would like to borrow federal loan funds.

  • You will need to have your Personal Identification Number (PIN) available to electronically sign your MPN. This is the same PIN you would have used to complete the Free Application for Federal Student Aid (FAFSA). If you can’t locate your PIN or are a new federal student aid applicant, you may reset or obtain a new PIN at www.pin.ed.gov.
  • You will need to “Sign In” using your PIN from your FAFSA. Select “Complete Master Promissory Note” and then select Subsidized/Unsubsidized. The application process is complete once you have electronically signed the MPN with your PIN.
  • When completing the Federal Direct Stafford MPN you will notice that you do not need to enter a requested loan amount. The Federal Direct Stafford MPN is a serial note that is valid for ten years and the borrower authorizes the school annually to increase the aggregate limit. Please complete the box on Widener’s Institutional Data Form to provide that information.

Returning Students: If you previously borrowed at Widener Law, your Federal Direct Subsidized/Unsubsidized MPN is valid for ten years and you authorize Widener Law School to increase the aggregate loan amount each year. Please complete the box on Widener’s Institutional Data Form to provide that information.


  • E01803-Widener University-Delaware Campus
  • E00656- Widener University-Harrisburg Campus

Packaging/Certifying Loan Requests
Widener Law’s Financial Aid Office certifies our student’s request for Federal Direct Subsidized/Unsubsidized Loans electronically. If you have not completed your Direct Stafford Direcct Loans MPN at the time we certify your eligibility, you will be contacted to complete the process. If you have any concerns or want to notify us yourself that you have completed the application, please feel free to contact us via email at :

Delaware Campus lawfinaide@mail.widener.edu
Harrisburg Campus lawfinaidhb@mail.widener.edu

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