adult students in class

Loans and Grants for Evening Undergraduate Students

Evening undergraduate students are eligible for the following types of loans:

Subsidized Direct Loans

Subsidized Direct Loans are available to students enrolled at least half-time, which is at least 6 units a semester for undergraduate programs. Students may receive up to $5,500 per year. No interest accrues while you are a student. Eligibility is based on need. The maximum amount available to undergraduate students through the Direct Loan program is $6,250 per semester. Read more about Direct Loan basics for students.

Unsubsidized Direct Loans

Unsubsidized Direct Loans are available to students enrolled at least half-time, which is at least 6 units a semester for undergraduate programs. Students may receive $7,000 per year or a total of $12,500 in combination with Subsidized. Interest does accrue on these loans and eligibility is not based on need. The maximum amount available to undergraduate students through the Direct Loan program is $6,250 per semester. Read more about Direct Loan basics for students.

Federal Direct Student Loans 2013-2014 Interest Rates
Effective for Loans With a First Disbursement on or After July 1, 2013

Loan Type

Student Grade Level

Cohort

Index Rate

Add-On

2013-2014 Fixed Interest Rate

Interest Rate Cap

First Disbursed On/After

First Disbursed Before

10-Year Treasury Note Index

Direct Subsidized Loans

Undergraduate Students

7/1/13

7/1/14

1.81%

2.05%

3.86%

8.25%

Direct Unsubsidized Loans

Undergraduate Students

7/1/13

7/1/14

1.81%

2.05%

3.86%

8.25%

Direct Unsubsidized Loans

Graduate/Professional Students

7/1/13

7/1/14

1.81%

3.60%

5.41%

9.50%

Direct PLUS Loans

Parents of Dependent Undergraduate Students and Graduate/Professional Students

7/1/13

7/1/14

1.81%

4.60%

6.41%

10.50%

Direct Consolidation Loans

N/A

Consolidation Loan Application Received on or after July 1, 2013 Interest rate remains the weighted average of the interest rates of the loans included in the consolidation, rounded up to the next higher one-eighth of one percent. New law removes the 8.25% cap.

Private Loans

Private loans may be available to help bridge the gap between financial aid and the cost of education. The terms of these loans differ according to the lender and you should compare the information to determine which loan best suits your needs.

Once you have considered federal loan options, you can use the California Private Loan Marketplace to instantly and accurately compare rates and terms from multiple private loan lenders side-by-side. This will help you make an informed decision about the most appropriate loan for you. The Marketplace displays products from local and national lenders, complete with detailed listings of APRs, interest rates, total cost, monthly payments, borrower benefits, fees and repayment options.

Loan Resources

Pell Grants

The U.S. Government provides Pell Grant assistance to part-time and full-time undergraduate students. Students become eligible based on income, etc., after the FAFSA (Free Application for Federal Student Aid) has been completed and processed.

Cal Grants

The Cal Grant is a California state scholarship program that is available only to students who are residents or children of taxpayers in California. Eligibility for Cal A or B is determined by the California Student Aid Commission (CSAC) based upon family income, assets and the academic record of the student. As transfer students to NDNU, Professional Studies/Evening students would have been awarded Cal Grant at their original college. Let the Financial Aid Office know if you are transferring a Cal Grant.

Other Resources

American Opportunity Tax Credit

Learn more about a newly created tax credit for education-related expenses.