Federal Direct Stafford Loan (FDSL)

Funds for the Federal Direct Stafford Loan, FDSL, are provided by the federal government. 

FDSL Interest Rates (Loans disbursed between July 1, 2014 and June 30, 2015):

  • Undergraduate subsidized and unsubsidized: 4.66%
  • Graduate unsubsidized: 6.21%

You must have filed a current academic year FAFSA to be eligible for a FDSL. To complete the loan requirements below you must have your FAFSA PIN. If you do not have your PIN you may request one online from the PIN Registration.

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

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

Once completed, the MPN covers all FDSLs originated on your behalf while you attend Mount Holyoke College.  Entrance Counseling is required to ensure that you understand your loan obligations. Mount Holyoke will receive electronic confirmation after you have successfully completed both of these requirements.

Federal Direct Stafford Loan - Subsidized

Eligibility for a subsidized FDSL is based on financial need. The school determines financial need for federal aid based on the FAFSA. The federal government does not charge interest before repayment begins 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

Eligibility for an unsubsidized FDSL is not based on need. However, a FAFSA must be filed in order to receive an unsubsidized FDSL.The federal government charges interest on the unsubsidized  FDSL from the time the loan is disbursed, until the loan is paid in full.  However, there is an option to defer payment of interest during school.  It is important to know that interest is capitalized at repayment, which means it is added to the principal.

Check here for annual federal loan limits

Origination Fee

Loans disbursed on or after December 1, 2013 and before October 1, 2014 have an origination fee of 1.072%. (Example: Fee=$58.96 on a $5,500 loan.) Loans disbursed on or after October 1, 2014 and before October 1, 2015 have an origination fee of 1.073%. (Example: Fee=$59.01 on a $5,500 loan.) The fee is deducted from the loan principal. 

The net FDSL amount will be disbursed onto the tuition account in late August for fall semester and in late January for spring semester.

Contact Information

For assistance with the Direct Loan Electronic Master Promissory Note
Applicant Services
COD School Relations Center
800-557-7394