Federal Direct Stafford Loan (FDSL)

Mount Holyoke College has participated in the William D. Ford Federal Direct Loan Program since 1996. Funds for the Federal Direct Stafford Loan, FDSL, are received directly from the federal government. 

FDSL Interest Rates for loans disbursed between July 1, 2013 and June 30, 2014:

  • Undergraduate subsidized and unsubsidized:3.86%
  • Graduate unsubsidized: 5.41%

You must have a valid, current FAFSA on file to be eligible for a FDSL. After your FAFSA was filed you were automatically mailed a PIN from the Department of Education. If you do not have a PIN you can request one online from the PIN Registration.

Before loan funds can be credited to your tuition account, you must complete the following:

  1. Entrance Counseling
  2. Master Promissory Note (MPN) 

The MPN will cover all FDSLs originated on your behalf while you attend Mount Holyoke College.  Entrance Counseling is necessary to ensure you understand the loan process. Mount Holyoke will receive electronic confirmation that you successfully completed both of the requirements.

You can check the annual federal loan limits to determine if you have additional eligibility. 

Federal Direct Stafford Loan - Subsidized

Subsidized FDSL are awarded based on financial need. The school determines your financial need, in part, from the information you provide on your financial aid application. With a subsidized Direct Loan, the federal government does not charge you interest before you begin repayment or during authorized periods of deferment (postponement of repayment).  Repayment of principal and interest begins six months after a student graduates or ceases being enrolled at least half time.

Federal Direct Stafford Loan - Unsubsidized

Unsubsidized FDSL are not awarded on the basis of need. If you are an eligible student, you may request an unsubsidized FDSL up to the maximum annual amount. The federal government charges you interest from the time the loan is paid out to you, until you pay the loan in full.  However, there is an option to defer payment of interest during school.  Please note that interest is capitalized at repayment, which means it is added to the principal.

The net FDSL amount will be credited in late August and again in late January.

Origination Fee

For loans disbursed before December 1, 2013, the origination fee is 1.051%. For loans disbursed after November 30, 2013 the origination fee is 1.072%. The fee is deducted from the loan principal. (Example: a $5,500 loan disbursed after December 1, 2013 will result in a net disbursed amount of $5,441.)

Contact Information

For assistance with the Direct Loan Electronic Master Promissory Note
Applicant Services
COD School Relations Center