Federal Stafford Student Loan Program

  • A Stafford 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 Federal 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 you are in school.
    • Unsubsidized loans accrue a low interest as soon as it is applied to your tuition.
  • Students are limited to the amount they can borrow.

    • 2007–2008

    Dependent Freshmen $3,500/yr
    Dependent Sophomore $4,500/yr
    Dependent Junior & Senior $5,500/yr
    Graduate Students $8,500/yr

    2008–2009

    Dependent Freshmen $3,500/yr
    Dependent Sophomore $4,500/yr
    Dependent Junior & Senior $5,500/yr
    Graduate Students $8,500/yr

  • Independent students are eligible for the above amounts and the following unsubsidized amounts.

    2007–2008

    Freshman & Sophomore $4,000/yr
    Junior & Senior $5,000/yr
    Graduate Students $12,000/yr

    2008–2009

    Freshman & Sophomore $4,000/yr
    Junior & Senior $5,000/yr
    Graduate Students $12,000/yr

  • 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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