Financial Aid

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Financial Aid 101

Grants

Loans

Federal Work-Study

Federal Direct Unsubsidized Loan

Am I charged interest on this loan while going to school?

Yes. These loans are called "unsubsidized" because the Federal Government does not pay the interest charges during in-school, deferment and gace periods. You are charged interest from the day your loan is disbursed until it is fully repaid.

You have the option of either paying the interest as you go or allowing it to accumulate. If you allow the interest to accumulate, it will be capitalized, that is, added to the principal amount of the loan, thereby increasing the total amount you will have to repay.

Are there any other charges for this loan?

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The City University of New York

Borough of Manhattan Community College
The City University of New York
199 Chambers Street, New York, NY 10007
212-220-8000 | Directory

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