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Stafford Loans (SUBSIDIZED and UNSUBSIDIZED) General Information

 

SUBSIDIZED

The subsidized Stafford is a need-based loan program. For a qualified student, the Federal Government pays the interest until the student ceases enrollment as, at least, a halftime student.

The amount a student can borrow will vary, depending upon the student's demonstrated financial need.

To apply, the student must complete the university application procedure.

 

UNSUBSIDIZED

Students may borrow through the unsubsidized loan program regardless of income. The unsubsidized loan's terms and conditions are the same as the federal Stafford subsidized loan such as loan limits, deferments, and interest rates. Students are charged with interest during in school and grace periods.

Please contact the Financial Aid office if you have any additional questions.

 

 

Stafford Loan Interest Rates

Note: Graduate Stafford Loans (both subsidized and unsubsidized) have a fixed interest rate of 6.8% through 2013.

 

Academic Year

  Subsidized Rates

 Unsubsidized/
Graduate Rates

  2009-10

5.60%    

6.80%

   2010-11

4.50%       

6.80%

   2011-12

3.40%       

6.80%

   2012-13

6.80%       

6.80%

Current Stafford Loan interest rates in effect from 07/01/2009 to 06/30/2010

 

 

Stafford Loan Limits  

Dependent Students 

Annual Loan Limits

First Year  

$5,500 ($3,500 subsidized/$2,000 unsubsidized)
Second Year $6,500 ($4,500 subsidized/$2,000 unsubsidized)
Third Year and Beyond $7,500 ($5,500 subsidized/$2,000 unsubsidized)

 

 

Independent Students 

Annual Loan Limits

First Year

$9,500   ($3,500 subsidized/$6,000 unsubsidized)
Second Year $10,500 ($4,500 subsidized/$6,000 unsubsidized)
Third Year and Beyond $12,500 ($5,500 subsidized/$7,000 unsubsidized)
Graduate or Professional $20,500 ($8,500 subsidized/$12,000 unsubsidized)

 

 

Lifetime Limits

Undergraduate Dependent         

$31,000 (Up to $23,000 may be subsidized)

Undergraduate Independent

$57,500

Graduate or Professional

$138,500 (Up to $65,000 may be subsidized) or $224,000 (for Health Professionals)

For loans first disbursed on or after July 1, 2008.
Please contact the Financial Aid office if you have any additional questions.

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