Federal Stafford Loans

Federal Direct Loans

The amount on your eligibility letter indicates the maximum loan for which you are eligible. There is currently a 1.072% origination fee deducted from the loan proceeds. The net amount of the loan after these deductions is the amount that will actually be applied to your tuition account.

The standard repayment period for Stafford Loans is ten years, beginning six months after graduation or enrolling less than half-time (i.e. less than 6 credits/semester). Failure to make loan payments can result in adverse credit rating, legal action and wage garnishment. Even if your loan servicer changes, you are responsible for making monthly payments, regardless of whether or not the paperwork has been transferred. Filing for personal bankruptcy does not relieve you of your obligation to repay your student loans in most cases. 

For Undergraduate Students

Direct Subsidized Loans

The Direct Subsidized Loan is need based. Interest is subsidized (paid) by the federal government as long as the student is attending school at least half-time.  The fixed interest rate for the Subsidized Loan is currently set at 4.66%.

Direct Unsubsidized Loan

The Direct Unsubsidized Loan is a non-need-based loan. The fixed interest rate for the Unsubsidized Stafford Loan is currently set at 4.66%.  Interest begins accruing immediately after the loan is disbursed.  Students can opt to defer interest payments while attending school at least half-time. 

Lending Limits

For dependent students:

  • First-Year $5,500/year ($3,500/year may be subsidized if you qualify)
  • Sophomore Year $6,500/year ($4,500/year may be subsidized if you qualify)
  • Junior and Seniors $7,500/year ($5,500/year may be subsidized if you qualify)

For independent students:

  • First-Year $9,500/year ($3,500 may be subsidized if you qualify)
  • Sophomore Year $10,500/year ($4,500 may be subsidized if you qualify)
  • Juniors and Seniors $12,500/year ($5,500 may be subsidized if you qualify)

For Graduate Students

Federal (Unsubsidized) Stafford Loan

The Federal Unsubsidized Stafford Loan is a non-need-based loan. The fixed interest rate for the Unsubsidized Stafford Loan is currently set at 6.21%.  Interest begins accruing immediately after the loan is disbursed.  Students can opt to defer interest payments while attending school at least half-time.

  • Annual lending limit: $20,500
©