Federal Direct Subsidized & Unsubsidized Stafford Loans
Subsidized Stafford loans are available to undergraduate students who demonstrate financial need and are enrolled at least half-time. Unsubsidized Stafford loans are available to students who do not demonstrate need, but still wish to borrow. The Financial Aid Office makes the determination of eligibility using the results of the Free Application for Federal Student Aid (FAFSA).
www.studentloans.gov - All borrowers must complete a Master Promissory Note (MPN) and first-time borrowers must also complete Entrance Counseling.
Repayment: Begins six months after graduating, dropping below half-time, or withdrawing from school. Several repayment options are available. Contact your loan servicer to determine what payment option is best for your situation.
Student borrowers are not charged interest while attending school at least half-time, during deferments, and sometimes during grace periods.
| NEW! Loan Guidelines | |
| Undergraduate Students | Graduate Students |
| Federal Direct Subsidized loans disbursed now through June 30, 2014, are no longer eligible to receive the interest subsidy during grace period. |
Graduate students are no longer eligible to receive subsidized loans. |
Fees: Through June 30, 2014, a fee equal to 1.0 percent will be withheld from Stafford Loan proceeds and retained by the U.S Department of Education.
Interest Rate: Subsidized loans disbursed through June 30, 2013, have a 3.4% interest rate for undergraduate students. Unsubsidized loans have a 6.8% fixed interest rate for graduate and undergraduate students.
The borrower is responsible for the interest that accrues beginning the day the first disbursement occurs. Borrowers can choose to pay interest or have it deferred until repayment begins. If deferred, the outstanding accrued interest will be capitalized or added to the principle of the loan. If you wish to make interest-only payments, contact your loan servicer.
Limits: Annual Aggregate Loan Limits based on the number of hours the student has successfully completed:
| Dependent Students | Base Amount | Additional Unsub | Total |
| Freshman (0 - 29 credits) | $3,500 | $2,000 | $5,500 |
| Sophomore (30 - 59 credits) | $4,500 | $2,000 | $6,500 |
| Junior-Senior (60+ credits) | $5,500 | $2,000 | $7,500 |
NOTE: Undergraduate Dependent Students whose parents are denied a Parent PLUS loan are able to borrow the same amount of loans as an Independent undergraduate student.
| Independent Students | Base Amount | Additional Unsub | Total |
| Freshman (0 - 29 credits): | $3,500 | $6,000 | $9,500 |
| Sophomore (30 - 59 credits): | $4,500 | $6,000 | $10,500 |
| Junior-Senior (60+ credits): | $5,500 | $7,000 | $12,500 |
| Graduate Student | $0 | $20,500 | $20,500 |
Total Aggregate Limits
Dependent Undergraduate Students: $31,000 (subsidized and unsubsidized combined of which $23,000 can be subsidized)
Independent Undergraduate Students: $57,500 (subsidized and unsubsidized combined of which $23,000 can be subsidized)
*Graduate/Professional Students: $138,500 (subsidized and unsubsidized combined of which $65,500 can be subsidized). Starting July 1, 2012, graduate students are only eligible to receive Unsubsidized loans.
NOTE: Undergraduate loans for both dependent and independent students are subject to proration.
What Is the National Student Loan Data System (NSLDS)?
The NSLDS is the U.S. Department of Education's central database for student aid. A student and/or parent is able to track all of his/her federal financial aid received through this database and review loan and grant history. It also provides:
- loan servicer contact information
- information on the amount borrowed
- information on interest accumulated, etc.
You will need your FSA Personal Identification Number to log in.
Apply for the FAFSA.