US Direct Loans

William D. Ford Federal Direct Loan Program is the Federal student loan program under which eligible students and parents borrow directly from the U.S. Department of Education at participating schools and enrolled in eligible programs.

There are different types of Direct Loans:

  • Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school. 
     
  • Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.
     
  • Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.
     

It depends on whether you are an undergraduate student, a graduate or professional student, or a parent.

  • If you are an undergraduate student, the maximum amount you can borrow each year in Direct Subsidized Loans and Direct Unsubsidized Loans ranges from $5,500 to $12,500 per year, depending on what year you are in school and your dependency status.
     
  • If you are a graduate or professional student, you can borrow up to $20,500 each year in Direct Unsubsidized Loans. Direct PLUS Loans can also be used for the remainder of your cost of attendance, as determined by your school, not covered by other financial aid.
     
  • If you are a parent of a dependent undergraduate student, you can receive a Direct PLUS Loan for the remainder of your child’s cost of attendance, as determined by your school, not covered by other financial aid.

You can verify the Subsidized and Unsubsidized annual loan limits set by the US Department of Education on studentaid.gov.

Check here further details on Bocconi Cost of Attendance.

Remember, you can borrow less than your school offers and can request more loan funds later if you need to. You should borrow only what you need. 
 

The school will first apply your loan funds to your tuition, fees and, if you live on campus, room. If any additional loan funds remain, they will be returned to you via bank transfer to an Italian bank account.

Please ensure that you have sufficient funds to cover your expenditure until you receive the possible refunded portion of your loan for study and living expenses after fees have been deducted.

Generally, your loan will cover a full academic year and your school will disburse your money in two payments, called disbursements. The first one approximately by the end of October and the second one by the end of March (with the exception of MAFED and MaGER courses: specific deadlines are in February and May).

Each subsequent disbursement is also subject to maintaining Satisfactory Academic Progress (SAP).

It is the student's responsibility to repay the loan.

Exit counselling provides important information to prepare you to repay your federal student loan(s). Further information can be found here.

If you have received a subsidized, unsubsidized or PLUS loan under the Direct Loan Program you must complete exit counseling each time you: 
 

  • drop below half-time enrollment
  • graduate
  • leave school

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