Unsubsidized Stafford Loan limits are calculated in combination with any amounts borrowed under the Subsidized Stafford Loan. Annual combined amounts cannot exceed the following:
|Annual combined loan amounts
(subsidized + unsubsidized)
|Undergraduate dependent student, first year||$5,500|
|Undergraduate dependent student, second year||$6,500|
|Undergraduate dependent student, third year||$7,500|
|Undergraduate dependent student, fourth year||$7,500|
|Undergraduate independent student, first year||$9,500|
|Undergraduate independent student, second year||$10,500|
|Undergraduate independent student, third year||$12,500|
|Undergraduate independent student, fourth year||$12,500|
|Aggregate loan amounts
(subsidized + unsubsidized over 4 years)
For the 2014-15 academic year, the interest rate will be a fixed rate of 4.66 percent. Interest accrues while the student is in school. Students may choose to make quarterly interest payments or have the interest deferred and capitalized before 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.
Award is renewed only if all necessary forms are filed each year and the student continues to meet eligibility requirements. Students may not be required to complete entrance counseling and eMPN if these requirements were previously completed.
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