This loan allows all students regardless of federal financial aid eligibility and who are enrolled for at least 6 credits per term (fall and spring) or 3 credits per term (summer sessions) to borrow up to $20,500 per academic grade level including any amount borrowed under the subsidized Stafford Loan Program. The interest rate is fixed at 6.8 percent. Unsubsidized Direct loans carry a 1.051 percent federal origination fee. Net proceeds will equal approximately 98.949 percent of the loan amount. Interest accrual begins immediately during in-school and deferment periods. Interest accruing during those periods may be paid or capitalized.