Stafford Loans

Federal Stafford Student Loan

The Federal Stafford Loan is available to students enrolled at least a half time basis in an undergraduate or graduate degree program. As this is a federal program, a student must file the FAFSA (Free Application for Federal Student Aid) to be offered this loan. Eligibility for a Federal Stafford Loan is based on cost of education, the amount of other financial aid being received and the expected family contribution.

There are both subsidized and unsubsidized components of the Stafford Loan. A student is offered one or both of these components based on the demonstrated financial need of the family.  The basic difference between the two components is that the federal government pays the interest on the subsidized Stafford loan while the student is in school and the student pays the interest on the unsubsidized portion. When receiving an unsubsidized Stafford loan, the student also has the option to capitalize interest payments (add interest to the principal balance). 

Please note changes to Stafford loan limits effective July 1, 2008.  The loan limits are as follows

Keep in mind:

1. Stafford loans are in the student's name only and are not based on credit.
2. Subsidized eligibility for the base amount is determined by the results of the FAFSA. 
3. The total amount of Stafford loan that a student can borrow is limited to the cost of attendance minus other financial aid received.
4. Independent students or dependent students whose parent’s have been denied the parent PLUS loan are eligible to apply for the additional $4000 or $5000 (amount determined by your grade level) unsubsidized eligibility.  If your parent’s have been denied the PLUS loan, please forward a copy of the denial to our office.

Checklist For First Time Borrowers of a Federal Stafford Loan

Checklist For Returning Students Borrowing a Federal Stafford Loan: