The exact amount will vary depending on financial need.
|Annual subsidized Stafford Loan amounts|
|Undergraduate (dependent/independent), first year||$3,500|
|Undergraduate (dependent/independent), second year||$4,500|
|Undergraduate (dependent/independent), third year||$5,500|
|Undergraduate (dependent/independent), fourth year||$5,500|
|Cumulative subsidized Stafford Loan amounts (over 4 years)|
For the 2014-15 academic year, the interest rate will be a fixed rate of 4.66 percent. No interest* accrues while the student is enrolled at least half-time. Standard repayment period is 10 years. 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%.
*As of July 1, 2013, a first-time Federal Subsidized Student Loan borrower is no longer eligible to receive Direct Subsidized Loans for more than 150% of the published length of their academic program (measured in academic years). For example, if you are enrolled in a 4-year bachelor’s degree program, the maximum period for which you can receive Direct Subsidized Loans is 6 years (150% of 4 years = 6 years). In addition, a borrower reaching the maximum time frame limit becomes ineligible for the interest subsidy benefits on all Federal Subsidized Loans disbursed to the borrower on or after July 1, 2013.
Repayment begins six months after the last date of half-time enrollment.
Interest subsidy during the six-month grace period is eliminated for new Stafford Loans made on or after July 1, 2012, and before July 1, 2014. The repayment period still begins six months after the student is no longer enrolled at least half-time, but interest that accrues during those six months will be payable by the student rather than be subsidized by the federal government.
Award is renewed only if all necessary forms are filed each year and students continue 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