Stafford Loans

There are two different types of Stafford Loans, subsidized and unsubsidized.

* Subsidized loans are awarded based on financial need. You will not be charged interest before you begin repayment or during periods of deferment. The federal government “subsidizes” the interest during these times.

* Unsubsidized loans are not awarded based on financial needs. Any eligible student can take out unsubsidized stafford loans. You will be charged interest from the time the loan is disbursed, to the time the loan is repaid in full.

How much can I borrow?

The amount you can borrow is based on your year in school and your status as a student. Independent students may borrow more because they are paying for college by themselves. Learn more here!

How do I qualify?

• You must be enrolled more than half time
• You must have already filled out the FAFSA
• Your school will award you a Stafford Loan

Students may not always qualify for the maximum amount - check with your financial aid office. For additional loan funding, consider private student loans or graduate alternative student loans which allow you to borrow up to the total cost of education less other financial aid received.

Stafford Loans issued after July 1, 2006 have a fixed interest rate of 6.8% whether a student is in school or in repayment, for both subsidized and unsubsidized Stafford loans.