Loans 2009-2010

Federal Stafford Loans were established by the Federal Government. They are fixed-rate, low interest loans available to undergraduate and graduate students attending accredited schools at least half time. They are the most common source of college loan funds.

There are two types of Stafford Loans. Subsidized Stafford loans are need-based, and the government pays the interest on these loans while you are in school, during a six-month grace period immediately preceding repayment, and during authorized deferment.

Unsubsidized Stafford loans are not need-based, and you are responsible for all of the interest that accrues on the loan, including while you are in school.

For Stafford loans first disbursed between July 1, 2009 and June 30, 2010 the interest rate is 5.6% for Subsidized and 6.8% for Unsubsidized.

Federal regulations limit the dollar amount a student may receive in an academic year from a Federal Subsidized Stafford Loan (see chart below for limits).

To view your federal student loan history, visit the National Student Loan Data System (NSLDS) and log in with your FAFSA ID and PIN.

Stafford Loans Please note: Loan limits are for a full academic year (Fall, Spring, and Summer). You will be able to receive no more than half of each loan limit per semester up to the annual limit at your academic level.
	Dependent Undergraduate Students*			Independent Undergraduate Students
Year	Subsidized	+	Unsubsidized	Subsidized	+	Unsubsidized
Freshman (0-29 credit hours)	$3,500	+	$2,000	$3,500	+	$6,000
Sophomore (30-59 credit hours)	$4,500	+	$2,000	$4,500	+	$6,000
Junior and Senior (60+ credit hours)	$5,500	+	$2,000	$5,500	+	$7,000
Teacher Certification (after completion of Bachelor's degree)	$5,500			$5,500	+	$7,000
Maximum Aggregate (Total) Limit	$31,000 (maximum $23,000 Subsidized)			$57,500 (maximum $23,000 Subsidized)
*Students whose parents cannot borrow PLUS may be eligible for additional Unsubsidized funds. Second Bachelor candidates are treated as Undergraduate students for purposes of determining loan limits.
Graduate/Professional Degree Students
Year				Subsidized	+	Unsubsidized
1st year				$8,500	+	$12,000
2nd year				$8,500	+	$12,000
3rd year				$8,500	+	$12,000
4th year				$8,500	+	$12,000
5th year				$8,500	+	$12,000
Maximum Grand Total Limit (Undergraduate and Graduate/Professional)				$138,500 (maximum $65,500 Subsidized)