Federal Loans

Federal loans, such as the Direct Unsubsidized Loan or Direct Graduate PLUS Loan, can help pay for your graduate school costs, including tuition, books, and room and board, along with other related expenses. When you take out a federal student loan, you are responsible for repaying the money you borrow, along with interest and fees. Most of the time, federal student loans have lower interest rates, lower fees, and better terms overall, as compared to private loans. 

Keep in mind: Federal aid programs, including loans, are for U.S. citizens and eligible non-citizens. If you are an international student, please review the For International Students page.

Federal Direct Loans

Eligibility Requirements

To qualify for a federal loan, you must:

• Be a U.S. citizen or eligible non-citizen
• Meet basic federal aid eligibility requirements
• File a Free Application for Federal Student Aid (FAFSA) using the Teachers College School Code (G03979) for each aid year that you need aid
• Enroll at least half-time (or the equivalent) during each term that you need federal aid 
• Enroll in a Masters or Doctoral degree program; non-degree and certificate programs do not qualify for federal aid
• Maintain Satisfactory Academic Progress (SAP)

Loan Interest and Fees

The interest rate on Federal Direct Loans is fixed, as set by law, and it will remain the same over the life of your loan. These loans accrue interest daily, unlike other forms of debt, and the interest begins to accrue when the money is disbursed to Teachers College. 

Direct Unsubsidized Loans and Direct Graduate PLUS Loans have upfront loan fees that are taken out of each loan disbursement, so the amount that is deposited to your student account will be less than what you originally borrowed. Read more about loan fees on the studentaid.gov website.

Interest Rates

Loan Fees

*Per federal guidelines, you will not see a change in the loan fees for loans that are disbursed for the first time between October 1, 2020 and September 30, 2025. Also, interest and loan fees are subject to change annually as set forth by the U.S. Department of Education.

Federal Rules about Sharing Loan Information

Teachers College, Columbia University, in accordance with federal regulation, reports all loan borrowing, student enrollment status (such as less than half-time, half-time, or full-time), and any changes in enrollment status to the National Student Loan Data System (NSLDS) via the National Student Clearinghouse. This means that when you borrow money in the form of federal loans at Teachers College, or at any other graduate school in the U.S., then authorized agencies, lenders, and institutions will have access to this information about you, which they may use for purposes including evaluating your creditworthiness in the future. 

Code of Conduct for Educational Loans

Teachers College, Columbia University, Office of Financial Aid, code of conduct for Educational Loans prohibits:

• Revenue-sharing arrangements with any lender
• Employees within the financial aid office awarding aid to themselves or their immediate family members.
• Contracting arrangement providing financial benefit from any lender or affiliate of a lender
• Financial aid staff taking action that is for their personal benefit or could be perceived to be a conflict of interest.
• The Office of Financial Aid from denying, impeding, or unnecessarily delaying a borrower's choice of a lender
• Employees of the Office of Financial Aid soliciting or accepting any gift from a lender, guarantor, or servicer of education loans. 
• The Office of Financial Aid from providing information that is not accurate, biased, and reflects preference arising from actual or potential personal gain. 

*** All required consumer information shall be displayed in a prominent location on the Office of Financial Aid website and in any printed materials, easily identified and found.