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The Federal Stafford
Subsidized Loan
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Based on
need, as determined by the information
provided on the
FAFSA.
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Interest
is not charged while you are in school, during the grace period and during authorized periods of
deferment.
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You must
be enrolled at least half time (6 hours)
to qualify.
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Repayment
begins six months after you drop below
six hours of enrollment. The six months
is known as your grace period.
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The
interest rate is fixed at 6.8%.
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Requires
entrance counseling prior to the first
disbursement of funds to the student’s
account.
The Federal Stafford
Unsubsidized Loan
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Not based
on need.
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Interest
begins accumulating at time of
disbursement.
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Interest
rate is fixed at 6.8%.
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Students
can pay interest while in school. If you
defer payments, the interest will be
capitalized.
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Repayment
begins six months after you are no
longer enrolled at least half time. The
six months is known as your grace
period.
-
Requires
entrance counseling prior to the first
disbursement of funds to the student’s
account.
First-time Borrower
Delivery Delay
| |
If you are a
first-year undergraduate and a first-time
borrower, your initial disbursement will be
reflected on your student account bill as
estimated aid, but will not actually be
disbursed to your student account until
after the 30th day of the term.
This may delay when you receive your excess
aid check for the term. The follow criteria
must also be complete for disbursement of aid. Stafford Loans will not be
disbursed to a student’s account until the
University has a valid
FAFSA on file,
acceptance of the Stafford loan(s) by return
of a signed award letter and a MPN and
entrance counseling have been completed. |
Annual Loan Limits
|
Dependent Undergraduate |
|
Subsidized |
|
Total (Sub and Unsub) |
|
Freshmen |
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$3,500 |
|
$3,500 |
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Sophomore |
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$4,500 |
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$4,500 |
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Junior |
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$5,500 |
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$5,500 |
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Senior |
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$5,500 |
|
$5,500 |
|
Independent Undergraduate |
|
Subsidized |
|
Total (Sub and Unsub) |
|
Freshmen |
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$3,500 |
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$7,500 |
|
Sophomore |
|
$4,500 |
|
$8,500 |
|
Junior |
|
$5,500 |
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$10,500 |
|
Senior |
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$5,500 |
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$10,500 |
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Graduate/Professional Annual Loan
Limit |
|
Subsidized |
|
Total (Sub and Unsub) |
|
All Years of Study |
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$8,500 |
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$20,500 |
Aggregate Limits
Undergraduate
|
Aggregate Loan
Limits - Stafford |
|
Subsidized |
|
Total (Sub and Unsub) |
|
Dependent Undergraduate |
|
$23,000 |
|
Same |
|
Independent Undergraduate |
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$23,000 |
|
$46,000 |
Graduate & Professional Students
|
Aggregate Loan Limits - Stafford |
|
Subsidized |
|
Total (Sub and Unsub) |
|
Graduate & Professional Students |
|
$65,500 |
|
$138,500 |
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"It's important to remember that loans are a legal
responsibility and must be repaid!" |
