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Unsubsidized
Federal Direct Stafford Unsubsidized Loans
Federal Direct Stafford Unsubsidized Loans may be offered to students regardless of financial
need. When determining the amount of an Unsubsidized loan, the cost of attendance and estimated
financial aid must be taken into account.
Additional unsubsidized Stafford loan limits applicable to undergraduate students are increased for loans first disbursed on or after July 1, 2008. Subsidized limits are unchanged.
| Federal Direct Stafford Loans |
Dependent Students
(whose parents were not denied a PLUS loan) |
Combined Base Limit for Subsidized and Unsubsidized Loans |
Additional Limit for Unsubsidized Loans |
Total Limit for Unsubsidized Loans (minus subsidized amounts) |
| First-Year Undergraduate (Freshman) |
$3,500 |
$2,000 |
$5,500 |
| Second-Year Undergraduate (Sophomore) |
$4,500 |
$2,000 |
$6,500 |
| Third-Year and Beyond Undergraduate (Junior, Senior) |
$5,500 |
$2,000 |
$7,500 |
Independent Students
(and dependent students whose parents were denied a PLUS loan) |
Combined Base Limit for Subsidized and Unsubsidized Loans |
Additional Limit for Unsubsidized Loans |
Total Limit for Unsubsidized Loans (minus subsidized amounts) |
| First-Year Undergraduate (Freshman) |
$3,500 |
$6,000 |
$9,500 |
| Second-Year Undergraduate (Sophomore) |
$4,500 |
$6,000 |
$10,500 |
| Third-Year and Beyond Undergraduate (Junior, Senior) |
$5,500 |
$7,000 |
$12,500 |
| Graduate and Professional Students |
Combined Base Limit for Subsidized and Unsubsidized Loans |
Additional Limit for Unsubsidized Loans |
Total Limit for Unsubsidized Loans (minus subsidized amounts) |
| Graduate and Professional Students |
$8,500 |
$12,000 |
$20,500 |
Interest Payment: The borrowers are responsible
for interest during all periods, including in-school, grace, and deferment
periods. Interest that accrues and is not paid during in-school and grace
periods is capitalized when the loan enters repayment.
Interest Rates: The interest on the Federal Direct Stafford
loans disbursed on or after July 1, 2006 is fixed at 6.80%.
Loan Fee: Effective July 1, 2008, a loan origination fee of 0.5% will be subtracted from the gross amount of the loan by the Federal government. The fee is subtracted from
the loan before it is disbursed.
Repayment: After you graduate, leave school
or drop below half-time enrollment, you have a 6 month grace period before
you begin repayment. You may prepay all or part of a loan at any time without
penalty. If you have more than one Federal student loan, be sure to specify
which loan you are prepaying.
| Aggregate Loan Limits - Federal Direct Stafford Loans |
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Combined Base Limit for Subsidized and Unsubsidized Loans |
Additional Limit for Unsubsidized Loans |
Total Limit for Unsubsidized Loans (minus subsidized amounts) |
| Dependent Undergraduate Students (whose parents were not denied a PLUS loan) |
$23,000 |
$8,000 |
$31,000 |
| Independent Undergraduate Students (and dependent students whose parents were denied a PLUS loan) |
$23,000 |
$34,500 |
$57,500 |
| Graduate and Professional Students |
$65,500
(including undergraduate Stafford loans) |
$73,000 |
$138,500 |
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