Direct Stafford Loan Program

• A Direct Student Loan is money authorized by the Federal Government to help pay for your college costs. These funds must be paid back to your lender upon your withdrawal from school or graduation.
• The interest of The Direct Stafford Loan can be subsidized or unsubsidized, which is determined by an analysis conducted on the Free Application for Federal Student Aid (FAFSA).
  • Subsidized loans do not accrue interest while in school at least half-time and during grace periods and deferment periods.
  • Unsubsidized loans accrue a low interest as soon as it is applied to your tuition.
• Students are limited to the amount they can borrow annually.

Dependent	Subsidized	Unsubsidized	Total
Freshman	$3,500	$2,000	$5,500
Sophomore	$4,500	$2,000	$6,500
Junior or Senior	$5,500	$2,000	$7,500

 

Independent	Subsidized	Unsubsidized	Total
Freshman	$3,500	$6,000	$9,500
Sophomore	$4,500	$6,000	$10,500
Junior or Senior	$5,500	$7,000	$12,500
Graduate	-	$20,500	$20,500

 

• Repayment of the loan does not occur as long as the student is enrolled half time or until six months after last date of attendance. However, it can be paid back at anytime without penalty.
• Repayment of the loan will be completed in a ten year time frame.
• Make sure to review the criteria to maintain your financial aid eligibility

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