Stafford Loans
Interest Rates
The interest rate for all Federal Direct Stafford Loans is a fixed 6.8%. There is a 1.051% origination fee deducted from each Stafford loan disbursement.
Annual Loan Totals
Dependent Undergraduate Students
The subsidized annual amounts listed below may be changed all or in part to an unsubsidized Stafford loan depending on the student's financial need as determined each year by the FAFSA form. Annual limits are based on the number of credits earned towards the student's degree.
- First Year: $3,500 subsidized, $2,000 unsubsidized
- Second Year: $4,500 subsidized, $2,000 unsubsidized
- Third through Fifth Year: $5,500 subsidized, $2,000 unsubsidized
Independent Undergraduate Students
The subsidized amounts listed below are awarded based on financial need. If the student does not have financial need, this amount will be replaced with an unsubsidized loan.
- First Year: $3,500 subsidized, $6,000 unsubsidized
- Second Year: $4,500 subsidized, $6,000 unsubsidized
- Third through Fifth Year: $5,500 subsidized, $7,000 unsubsidized
Graduate Students
The annual maximum is $20,500. Beginning July 1, 2012 graduate students are only eligible for unsubsidized Stafford Loans.
Aggregate Loan Totals
Dependent Undergraduate Students
$31,000 of which $23,000 can be subsidized
Independent Undergraduate Students
$57,500 of which $23,000 can be subsidized
Graduate Students
$138,500 of which $65,500 can be subsidized