Subsidized Stafford Loans are awarded to students with demonstrated financial need. Interest is subsidized (paid) by the government while the student is in school and during the six-month grace period after the student leaves school or drops below half-time enrollment status*. Loans enter repayment at the end of the grace period.
*Interest will be charged during the six-month grace period for subsidized loans disbursed between July 1, 2012 and June 30, 2014.
Unsubsidized Stafford loans are available to all students regardless of income. Interest accrues from the date of disbursement, but the extra costs of accrual can be avoided by making regular interest payments while in school. Loans enter repayment six months after the student graduates or ceases half-time enrollment.
|Stafford Interest Rates|
Beginning March 1st, 2013, the origination fee for Stafford Loans is 1.051%.
|Annual Loan Limits|
|Grade Level||Maximum Subsidized||Unsubsidized||Total Yearly Amounts|
|Freshman (DEP)||$ 3,500||$ 2,000||$ 5,500|
|Freshman (INDEP)||$ 3,500||$ 6,000||$ 9,500|
|Sophomore (DEP)||$ 4,500||$ 2,000||$ 6,500|
|Sophomore (INDEP)||$ 4,500||$ 6,000||$ 10,500|
|Junior/Senior (DEP)||$ 5,500||$ 2,000||$ 7,500|
|Junior/Senior (INDEP)||$ 5,500||$ 7,000||$ 12,500|
|Graduate||*||$ 20,500||$ 20,500|
* As of July 1, 2012, graduate students are only eligible for Unsubsidized Stafford Loans.
|Aggregate Loan Limits|
|Classification||Maximum Subsidized||Unsubsidized||Maximum Total|
|Undergraduate (DEP)||$ 23,000||$ 8,000||$ 31,000|
|Undergraduate (INDEP)||$ 23,000||$ 34,500||$ 57,500|
|Average Loan Indebtedness for the graduating class of 2011 (1290 Students)|
|Loan Type||Number of Borrowers||Percent of Graduating Class||Average Borrowed|
|Federal Loans:||797||62%||$ 19.321|
|All Loans:||801||62%||$ 19,744|
All Loans includes Federal Stafford loans (subsidized and unsubsidized), Federal Perkins loans, and private alternative loans. PLUS loans are not included in this average.
Federal Loans includes Federal Stafford loans (subsidized and unsubsidized) and Federal Perkins loans. PLUS loans are not included in this average.
The graduating class is comprised of students graduating with undergraduate degrees between July 1st, 2010 and June 30th, 2011.
The method used to generate these statistics is based on the Common Data Set reporting process.
As a Stafford Loan borrower, you are expected to understand your rights and responsibilities.