Available to all matriculating students enrolled at least half-time, regardless of need, provided they are a U.S. citizen or permanent resident and are not in default on previous federal loans. Annual loan amount is determined by the student's grade level.
Maximum annual loan limits based on grade level for dependent undergraduate students are as follows:
$3,500 Subsidized + $2,000 Unsubsidized Federal Direct Loan: Freshmen (0-26 credits earned) = $5,500 TOTAL
$4,500 Subsidized + $2,000 Unsubsidized Federal Direct Loan: Sophomore (27-56 credits earned) = $6,500 TOTAL
$5,500 Subsidized + $2,000 Unsubsidized Federal Direct Loan: Junior/Senior (57 + credits earned) = $7,500 TOTAL
Whether loan is Subsidized is based on financial need as determined by the FAFSA. If student as no financial need, total annual Unsubsidized Stafford Loan eligibility would be: $5,500 as a freshman, $6,500 as a sophomore, $7,500 as a junior or senior.
Maximum annual loan limits per grade level for independent undergraduate students or for dependent undergraduate students whose parents are denied on the Federal Direct PLUS Loan are as follows:
Freshman: $3,500 Subsidized Federal Direct Stafford + $6,000 Unsubsidized Federal Direct Stafford = $9,500 TOTAL
Sophomore: $4,500 Subsidized Federal Direct Stafford + $6,000 Unsubsidized Federal Direct Stafford = $10,500 TOTAL
Junior & Senior: $5,500 Subsidized Federal Direct Stafford + $7,000 Unsubsidized Federal Direct Stafford = $12,500 TOTAL
Whether loan is subsidized or unsubsidized is based on financial need. Stafford Loan Features:
Student is the primary borrower
Repayment automaticallydeferred until six months following graduation, provided the student remains enrolled at least half-time
Standard repayment term=10 years.
If you have financial need, a portion of your loan may be subsidized (i.e.-federal government pays the interest on the loan while you are enrolled and during your six-month grace period.
You have option of making quarterly payments on the interest on your Unsubsidized Stafford Loan.
The interest rate on your Stafford Loan is fixed for the life of the loan.
The interest rates for Direct Stafford Loans with a first disbursement made July 1, 2017 through June 30, 2018 are as follows:
Undergraduate students = 4.45%
Graduate students = 6%
The Federal Direct Stafford Loan origination fee is 1.066% for Stafford Loans disbursed October 1, 2017 through September 30, 2018.
A student borrows a $5,500 Federal Direct Stafford Loan for the year. Net proceeds student will receive on a $5,500 Stafford Loan = $5,441, split over two disbursements, once the 1.066% origination fee is deducted by the government.
Apply for a Federal Direct Stafford Loan
For the Summer 2017/Fall 2017/Spring 2018 Semesters: