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Eligibility criteria:

  1. Enrolled at least half-time
  2. Not in default on another student loan
  3. U.S. citizen or eligible non-citizen
  4. Maintaining Satisfactory Academic Progress

Amounts and selection process

Annual loan amounts for Federal Direct Unsubsidized Stafford Loans cannot exceed the limits listed below. Cumulative loan amounts include any Subsidized or Unsubsidized Stafford loans received as either an undergraduate or graduate student towards the limit listed below.

Annual Loan Amounts
Graduate $20,500
Dental student (first, second, or third year) $47,167
Dental student (fourth year) $40,500
Cumulative Stafford Loan Amounts
(subsidized + unsubsidized for undergrad and grad studies)
Graduate, Law, Health Professionals $138,500
Dental $224,000

Terms

For the 2014-15 academic year, the interest rate will be a fixed rate of 6.21 percent. Interest accrues while the student is in school. Students may choose to make quarterly interest payments or have the interest deferred and capitalized prior to repayment. A net 1.072 percent processing fee is deducted from the loan proceeds when the funds are disbursed. For loans in which the first disbursement is on or after October 1, 2014, the origination fee is 1.073%.

Repayment begins six months after the last date of half-time enrollment.

Application process

  1. File the Free Application for Federal Student Aid.
  2. Eligible students will be notified to accept the Stafford Loan on CheckMarq.
  3. Federal regulations require first time borrowers to complete entrance counseling and an electronic Master Promissory Note prior to disbursement of funds.

Renewal process

Renewed only if all necessary forms are filed each year and students continue to meet eligibility requirements. Students will be required to complete entrance counseling and an eMPN if these requirements were not previously completed at Marquette.

 

OFFICE OF STUDENT FINANCIAL AID

The Office of Student Financial Aid provides undergraduate and graduate students with resources about types of financial aid and student employment.



FAFSA School Code: 003863

Questions or for more information, contact the Office of Student Financial Aid