Enrollment Services
Financial Aid
Federal Direct Unsubsidized Stafford/Ford Loan
Available to all families regardless of income, as of July 1, 2006, this loan has a 6.8% fixed interest rate, (previous loans not to exceed 8.25%). The interest, which accrues while you are in school, can be paid while in school, or it can be capitalized and paid later. Fees totaling 3% are deducted from each disbursement.
Dependent Students (see definition of "dependent" on the FAFSA)
Dependent students can borrow under either the subsidized loan program (if eligible), the unsubsidized loan program, or a combination of both. However, the combination of annual borrowing from both programs cannot exceed the loan amounts listed under Federal Direct Subsidized Stafford/Ford Loan above.
Independent Students (amounts include both Subsidized and Unsubsidized Loans)
$7,500 per academic year Freshman
$8,500 per academic year Sophomore
$10,500 per academic year Junior/Senior
$20,500 per academic year Graduate
Independent students can borrow up to the above amounts of unsubsidized Stafford/Ford Loan (if eligible). Remember, applicants cannot borrow more than the cost of education minus any other financial aid (e.g., portions of Subsidized Stafford/Ford Loan) for which they are eligible.
The total combined Stafford/Ford Loan debt maximums are $23,000 for dependent undergraduates and $46,000 for independent undergraduates. The graduate maximum, $138,500, includes loans received as an undergraduate.
 Subsidized Stafford Loans |
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