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FAFSA
School Code:
002479

Home » Financial Aid » Types of Aid » Loans

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Loans

FFELP Loans:

Subsidized Stafford Loan

Low interest loan that must be repaid and is based on financial need and grade level. Students must be enrolled part-time (6 semester hours for undergraduate students and 5 semester hours for graduate students) . The government pays the interest for the student while they are in school.

Unsubsidized Stafford Loans

Not based on need. Unlike the Subsidized loan, students (not the government) are responsible for paying the interest while in school, during the six-month grace period, and during periods of authorized deferment. Loan repayment begins 6 months after you leave school at variable interest rates with up to 10 years to repay.

Federal Stafford Load Maximums⁽¹⁾		Annual Limits
Dependent Undergraduates⁽²⁾	Subsidized	Total (Subsidized and Unsubsidized)⁽³⁾
First Year	3,500	3,500
Second Year	4,500	4,500
Third Year and Beyond	5,500	5,500

Independent Undergraduates (and dependents whose parents are unable to borrow under the Federal PLUS Program)
First Year	3,500	7,500
Second Year	4,500	8,500
Third Year and Beyond	5,500	10,500
Graduate and Professional Students	8,500	20,500

Certain health profession students may qualify for higher limits.
All undergraduate annual loan limits agree subject to proration.
If the borrower does not show financial need for a Subsidized Stafford Loan, or has reached their aggregate limit in Subsidized Stafford Loans, the borrower may receive up to this entire amount in Unsubsidized Stafford Loans assuming he or she has remaining eligibility for the loan.

PLUS loans

Credit based loans for parents who may borrow up to the cost of attendance per year, for each child who is a dependent undergraduate student and is enrolled at least part-time. With a fixed interest rate of 8.5% accrual begins at disbursement. Repayment starts 60 days after the first loan check has been disbursed. For a list of lenders, please view our online lender list. Before we can certify a PLUS loan, the student must have a completed FAFSA on file.

Graduate PLUS

Credit based loans for graduate students enrolled at least half-time. They may borrow up to the cost of attendance minus all other financial aid received. With a fixed interest rate of 8.5% accrual begins at disbursement. Repayment starts 60 days after the first loan check has been disbursed. For a list of lenders, please view our online lender list. Before we can certify a Graduate PLUS loan, the student must have a completed FAFSA on file and already applied for the maximum eligibility of Stafford loans.

Preferred Lender Selection & Criteria

Private (Alternative) Loans

Non-need based programs designed to assist in educational and living expenses based on a student's credit history.

Get more information.