Academic Programs Catalog

Undergraduate Education

Financial Aid for Undergraduates

Student Loans
Federal Unsubsidized Stafford (Direct) Loan

The Federal Unsubsidized Stafford (Direct) Loan is not based on need. Payment on the principal is deferred while the student borrower is enrolled at least half time. Interest is paid by the student borrower through quarterly payments, or if a student desires it can be added daily to the principal, to be repaid when the student ceases to be enrolled. Interest rates vary annually. The rate for 2017-18 is 4.45%.

Completion of the FAFSA is required for participation in the Federal Unsubsidized Stafford Loan program.

Annual maximums for the Unsubsidized Stafford Loans are:

Dependent Freshman $5,500
Dependent Sophomore $6,500
Dependent Junior/Senior $7,500
Independent Freshman $9,500
Independent Sophomore $10,500
Independent Junior/Senior  $12,500

Note that the maximums include both subsidized and unsubsidized
loans. For example, an independent freshman who receives a $3,500
subsidized loan can borrow no more than $6,000 in unsubsidized loan.

Lifetime loan limits for all Stafford Subsidized and Unsubsidized Loans are:

Dependent undergraduate $31,000
Independent undergraduate $57,500