Federal Subsidized Stafford Loan
Type of aid:
Loan - must be repaid
Interest charged:
6.8% fixed, for all new loans
Award amounts:
- $3,500 (for 2007-08)
maximum per year for freshmen. - $4,500 (for 2007-08)
maximum per year for sophomores. - $5,500
maximum per year for juniors, seniors and continuing undergrads. - $8,500
maximum per year for graduate degree students.
Enrollment required:
- 12 credit hours
required at the time of disbursement for undergrad full award consideration. - 6 credit hours
minimum at the time of disbursement for undergrad payment - award may be adjusted. - 9 credit hours
required at the time of disbursement for graduate full award consideration. - 5 credit hours
minimum at the time of disbursement for graduate payment - award may be adjusted.
Grace Period:
6 months from last date of half time or more enrollment.
Academic level:
Undergraduate or graduate degree-seeking students
EFC range:
Limited by student's estimated Cost of Attendance
Filing date:
Open. However, loans come from outside lending institutions and have several steps in the process. So give a couple weeks for the full process.
Payment process:
Paid to your school account if sent by Electronic Funds Transfer by your bank. If sent as a paper check, you must endorse the payment at the Office of the Controller upon arrival.
Costs it can cover:
Any educational expenses
Paperwork required:
- FAFSA and documents requested to complete your aid file.
- Federal Stafford Loan Request Form
- Master Promissory Note
Special rules:
- All loans are paid in two disbursements.
- An Entrance Interview is required before receiving the first disbursement.
- An Exit Interview is required if no longer enrolled ½ time or more.