Grants and Loans

Questions? Contact Financial Aid.


financialaid@york.edu

Grants

A grant is a financial aid award that does not need to be repaid. Grants are a form of need-based aid; they are distributed based on need as determined by the Free Application for Federal Student Aid. 
  • Awarded to students with exceptional financial need
  • Up to $6,895
  • Awarded to students with exceptional financial need
  • Up to $1,000
  • Awarded to residents of Nebraska that are attending school in Nebraska
  • Up to $500
  • Awarded to Education majors going into high-needs fields.  
  • Up to $4,000

 

Types of Loans for Undergraduate Students

Subsidized Direct Loans:

You are not responsible for the interest while in school at least half-time and the first 6 months after you leave school. 

  • Must demonstrate financial need
  • Repayment of the loan begins at the end of the six month grace period after leaving school or dropping below half-time.
  • Interest is paid by the federal government as long as you are enrolled at least half-time at the university and during your six month grace period.
  • Click here to learn more, see interest rates, and origination fees at studentaid.gov.

Unsubsidized Loan

You are responsible for paying the interest during all periods. 

  • Awarded regardless of demonstrated need
  • Interest begins accruing from the date of disbursement
  • Unpaid interest while in school is capitalized (added to the principal amount)
  • Click here to learn more, see interest rates, and origination fees at studentaid.gov.

Direct Loan Limits for Subsidized & Unsubsidized Loans

Dependent undergraduate students enrolled in a degree-seeking program may borrow per year up to:

  • $5,500 as a freshman (0-27 hours of credit)($3,500 of which may be subsidized loans)
  • $6,500 as a sophomore (at least 30 credit hours earned & $4,500 of which may be subsidized loans)
  • $7,500 as a junior or senior (at least 60 credit hours earned & $5,500 of which may be subsidized loans)
  • Maximum amount allowed to borrow while in school: $31,000

Independent undergraduate students and dependent students whose parents have been denied access to a Federal Direct PLUS Loan may borrow per year up to:

  • $9,500 as a freshman (0-27 hours) ($3,500 of which may be subsidized loans)
  • $10,500 as a sophomore (at least 30 credit hours earned & $4,500 of which may be subsidized loans)
  • $12,500 as a junior or senior (at least 60 credit hours earned & $5,500 of which may be subsidized loans)
  • Maximum amount allowed to borrow while in school: $57,500

Before a Federal Direct Loan can be awarded, you must complete a Free Application for Federal Student Aid (FAFSA) form. 

Parents of dependent students (who are enrolled at least half time) may apply for a Direct PLUS Loan which is used to supplement other financial aid awarded to a student, such as the Direct Stafford Loan. Parents, not students, are responsible for repaying this loan. 

 

Types of Loans for Graduate Students

Awarded based on the Cost of Attendance minus all other aid awarded. Interest accumulates from the time the loan is disbursed until it is paid in full. 

 

Fees and Interest Rates

The interest rate varies depending on the loan type and (for most types of federal student loans) the first disbursement date of the loan. The table below provides interest rates for Direct Loans first disbursed on or after July 1, 2022. 

 

Loan Type
Borrower Type
Loans first disbursed on or after 7/1/22 and before 7/1/23
Direct Subsidized Loans
Undergraduate
4.99%
Direct Unsubsidized Loans
Undergraduate
4.99%
Direct Unsubsidized Loans
Graduate or Professional
6.54%
Direct PLUS Loans
Parents and Graduate or Professional Students
7.54%
 
All interest rates shown in the chart above are fixed rates for the life of the loan.
​
Note: The interest rates for federal student loans are determined by federal law. If there are future changes to federal law that affect federal student loan interest rates, we will update this page to reflect those changes.
 

Loan Limits

The following chart shows the annual and aggregate limits for subsidized and unsubsidized loans.

Year Dependent Students (except students whose parents are unable to obtain PLUS Loans) Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)
First-Year (0-27 total credit hours) Undergraduate Annual Loan Limit $5,500-No more than $3,500 of this amount may be in subsidized loans. $9,500-No more than $3,500 of this amount may be in subsidized loans.
Second-Year (28-59 total credit hours) Undergraduate Annual Loan Limit $6,500-No more than $4,500 of this amount may be in subsidized loans. $10,500-No more than $4,500 of this amount may be in subsidized loans.
Third Year (60+ total credit hours) and Beyond Undergraduate Annual Loan Limit $7,500 per year-No more than $5,500 of this amount may be in subsidized loans. $12,500-No more than $5,500 of this amount may be in subsidized loans.
Graduate or Professional Student Annual Loan Limit Not Applicable (all graduate and professional degree students are considered independent).
 		 $20,500 (unsubsidized only).
Subsidized and Unsubsidized Aggregate Loan Limit $31,000-No more than $23,000 of this amount may be in subsidized loans.

$57,500 for undergraduates-No more than $23,000 of this amount may be in subsidized loans.

$138,500 for graduate or professional students-No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.