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Subsidized
Stafford
Loan |
The interest charges for this student loan are
"subsidized" by the Dept. of Education. No interest
charges are added to the principle amount of this loan as
long as the student is in college and for 6 months after class
attendance. It is a need-based loan for which you may not
be eligible, depending on your EFC and your Cost of Attendance. |
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Loan Limits by Class Rank |
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Class |
Hours |
Annual Maximum |
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Freshman |
0-31 |
$3500 |
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Sophomore |
32-63 |
$4500 |
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Junior |
64-95 |
$5,500 |
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Senior |
96+ |
$5,500 |
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Unsubsidized
Stafford
Loan |
The interest charges for this student loan are
not subsidized by the Dept. of Education. Unless the student
indicates on the MPN that he/she wants to pay the interest
each month, the interest is added onto the principle balance
of the loan, so it compounds monthly. |
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NOTE: Independent Students are eligible
for Unsubsidized loans. However, Dependent students eligible
for Subsidized loans are not eligible for Unsubsidized loans
unless their parents are denied PLUS Loans. |
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Loan Limits by Class Rank |
|
Class |
Hours |
Annual Maximum |
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Freshman |
0-31 |
$6,000 |
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Sophomore |
32-63 |
$6,000 |
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Junior |
64-95 |
$7,000 |
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Senior |
96+ |
$7,000 |
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PLUS
Loan |
As its name indicates, this low interest
loan is only available as a Parental
Loan for Undergraduate
Students. The proceeds
from this loan are only paid directly to the school to be
applied to your student's account. The amount of this loan
is limited by the Cost of Attendance as calculated by the
Financial Aid Office who certifies the loan at your request.
You must have filled out an MPN. |
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