Federal Unsubsidized Stafford Loan
Type of aid:
Loan - must be repaid
Interest charged:
.8% fixed for all new loans
Award amounts:
- $3,500 (for 2007-08)
minus Subsidized Stafford eligibility per year for freshmen - $4,500 (for 2007-08)
minus Subsidized Stafford eligibility per year for sophomores - $5,500
minus Subsidized Stafford eligibility per year for juniors, seniors and continuing undergrads - $20,500 (for 2007-08)
minus Subsidized Stafford eligibility per year for graduate 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:
None
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
Special rules:
- All loans are paid in two disbursements.
- First disbursement cannot be earlier than 10 days before semester starts.
- An Entrance Interview is required before receiving the first disbursement.
- An Exit Interview is required if no longer enrolled ½ time or more.