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Federal Student Loans

All students who complete the FAFSA and are eligible to be considered for financial aid may receive the Federal Direct Student Loan. This loan may be Subsidized or Unsubsidized (or a combination of both), and is often referred to as the Stafford Loan. This loan is borrowed and repaid by the student. A student's eligibility is determined by the total cost of attendance, results of the FAFSA, and other financial aid resources.

Subsidized Loan: The federal government pays the interest on this loan while you are in school at least half time.  Interest begins to accrue upon graduation or non-enrollment.  Graduate students are not eligible for subsidized loan funds.  You must have financial need to qualify for this type of loan.

Unsubsidized Loan:  You will be charged interest on this loan from the time the loan is disbursed until it is paid in full. You may allow interest to accumulate until repayment, at which time it will be capitalized. We encourage you to make quarterly interest payments, if possible. Financial need is not required to receive this loan.

Interest Rates

The interest rate for the 2014-2015 school year is fixed for the life of the loan.

2014-2015 Interest Rates

  Subsidized Unsubsidized
Undergraduate 4.66% 4.66%
Graduate N/A 6.21%

Loan Fees

The U.S. Department of Education charges a loan origination fee for processing your loan.

1.072% 1.073%

Maximum Annual Loan Amounts

Borrower's Total Amount of Subsidized and Unsubsidized Loans
Academic Level Dependent
Subsidized Loan Limits
(0-29 Hrs)
$5,500 $9,500 No more than $3,500
(30-59 Hrs)
$6,500 $10,500 No more than $4,500
Junior & Senior
(60+ Hrs)
$7,500 $12,500 No more than $5,500
Graduate N/A $20,500 N/A
Associate Degree $6,500 $10,500 No more than $4,500



Eligibility Requirements



To be eligible for the Federal Direct Stafford Loan you must meet the following eligibility requirements:

  • Complete an EMPN and Entrance Counseling (if a first-time borrower).

  • Complete Student Loan Decisions if you have had previous loans.

  • Be enrolled at least half time (6 hours for undergraduates or 5 graduate hours for graduate students).

  • Be enrolled in a degree-seeking program.

  • Not be in default on a previous student loan.

  • Must meet Satisfactory Academic Progress Guidelines

  • Accept/Decline/Reduce your loans on your student center page at


Disbursements are applied to your university bill, i.e., student account.  Refunds resulting from your aid exceeding your charges will be direct deposited into the student's personal account.  To sign up for direct deposit go to Direct deposit.  Students not signed up for direct deposit will have a paper check issued.


You have a six month grace period before you have to start paying back your loan. Your loan repayment begins six months after the day you graduate, leave school, or cease to be enrolled at least half time. Each loan has only one grace period. If you return to school after the grace period has expired, your loan may qualify for a deferment while enrolled. Your loan would return to a repayment status after you leave school. There is no additional grace period.

If you would like to see approximately what your loan payments will be, you can use the repayment calculator at

Questions concerning repayment should be directed to the Direct Loan Servicing Center at 1-800-848-0979.