RN to BSN Program
- Financial Aid
- Financial Aid Homepage
- Prospective Students
- Current Students
- Special Circumstances
- Finalizing Aid
- Satisfactory Academic Progress
- Verification
- FAQ's
- Loans
- Loans Homepage
- Federal Direct Stafford Loans
- Federal Direct Plus Loan
- Federal Direct Perkins Loan
- Return of Title IV Funds
- Scholarships & Grants
- Student Employment
- Billing
The federal government offers two types of Federal Direct Stafford Loan programs. Yearly and aggregate loan limits apply to both programs.
- The Direct Subsidized Stafford Loan is need based
- The Direct Unsubsidized Stafford Loan is not based on a need formula
Direct Stafford Loan Limits Table
| Type of Student | |||
| Year in school | Dependent undergraduate (except whose parents are unable to obtain PLUS Loans) |
Independent undergraduate (and dependet students whose parents are unable to obtain PLUS Loans) |
Gradutate and professional degree students |
| Freshmen (0-29 earned credits) |
$5,500 ($3,500 max in subsidized loans) |
$9,500 ($3,500 max in subsidized loans) |
$20,500 (all unsubsidized as of July 1, 2012) |
| Sophomore (30-59 earned credits) |
$6,500 ( $4,500 max in subsidized loans) |
$10,500 ( $4,500 max in subsidized loans) |
|
| Junior (60-89 earned credits) |
$7,500 ( $5,500 max in subsidized loans) |
$12,500 ( $5,500 max in subsidized loans) |
|
| Senior (90+ earned credits) |
$7,500 ( $5,500 max in subsidized loans) |
$12,500 ( $5,500 max in subsidized loans) |
|
| Aggregate Limits | $31,000 ($23,000 max in subsidized loans) |
$57,500 ($23,000 max in subsidized loans) |
$138,500 ($65,500 max in subsidized loans) |
To Recieve Direct Stafford Loans
- Undergraduate students must be enrolled in at least 6 credits
- Graduate students must be enrolled in at least 3 credits
- All Students must complete the Master Promissory Note (MPN) and Entrance Counseling
- If selected for verification, be sure to complete that in a timely manner
Graduate, Withdraw, or Drop Below Half-time?
Federal law requires you to complete the Exit Counseling which provides information about how to manage your student loans. (Exit Counseling Guidebook)
Interest and Repayment Information
- The Interest rate is 3.4% for Subsidized and 6.8% for Unsubsidized Stafford Loans
- The Direct Subsidized Loan interest is deferred while you are in school, for the first six months after you leave school, and during and period of deferment.
- The Direct Unsbusidized Loan interest accrues while you are in school and during any deferment period.
Important Information |
|
Contact Information |
|
