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Financial Aid 101



Federal Work-Study

Federal Direct Unsubsidized Loan

What is the interest rate on an unsubsidized loan?

Unsubsidized loans have the same variable interest rate as subsidized loans. Your rate of interest will never exceed 8.25%. The actual interest rate for your loan is adjusted each year on July 1 and is calculated according to a federal formula. You will be notified as the interest rate changes throughout the life of the loan.

Check here for current education loan interest rates.

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

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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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