Loans
Federal Subsidized Direct Stafford Loan Program
- Fixed interest rate.
- Based on financial need as determined by the FAFSA.
- Undergraduate students enrolled for at least 6 credit hours.
- Dependent undergraduates: up to $5,500 in the first year, $6,500 in the second year, and $7,500 in the third and fourth years, up to a maximum total of $31,000. Independent undergraduates: up to $7,500 in the first and second years and $12,500 in the third and fourth years, up to a maximum total of $57,500. Students must complete the FAFSA.
Federal Direct Unsubsidized Stafford Loan Program
The annual as well as the aggregate loan limits are the very same as the Subsidized Stafford Loan (less amounts borrowed under that program) for dependent students. However, the independent student can borrow additional funds through the Federal Unsubsidized Stafford Loan Program. Loan limits may vary according to the student’s year in college. Graduate students can borrow up to a maximum of $20,500 per year. For additional information and current interest rates please go to www.studentaid.gov.
Federal Direct Parent Loan Program (Plus)
- Credit based loan for parents of undergraduate students
- For additional information and current interest rates visit www.studentaid.gov
On all the Federal Direct Loan Programs mentioned above, there is an origination fee. These fees will reduce the net amount of the loan proceeds. To qualify, students must complete the Free Application for Federal Student Aid (FAFSA).