FORMS OF AID
Federal Direct Subsidized/Unsubsidized Stafford Loans
- Subsidized Stafford Loans are need-based and don’t accrue interest throughout the student’s amount of time in college. Just accessible to undergraduates.
- Unsubsidized Stafford Loans are non-need-based and do accrue interest throughout the student’s amount of time in college. Offered to undergraduates and graduate/professional pupils.
Federal Perkins and Nursing Loans
• For pupils showing significant need that is financial. These usually do not accrue interest through the student’s amount of time in college.
Federal Direct PLUS Loans
• accessible to moms and dads of reliant undergraduates, and/or students that are graduate. These do accrue interest through the student’s amount of time in school.
Federal figuratively speaking can be found to pupils that are:
- Us residents or residents that are permanent.
- Enrolled at minimum half time (6 credit hours per term) in a degree-seeking system.
To be able to get federal loans for a program or courses, the course(s) must:
- Engage in a degree-seeking program that is matriculated.
- Not be audited courses.
Interest levels for Federal Loans
|Loan Type||Borrower Type||Fixed Rate Of Interest|
|Federal Direct Stafford Loan||Undergraduate Students||4.53%|
|Federal Direct Stafford Loan||Graduate/Professional Students||7.08%|
|Federal Perkins/Nursing Loan||Undergraduate Students||5.00%|
|Federal Direct PLUS Loan||moms and dads of Dependent Undergraduates and
Note: Above numbers relate genuinely to loans first disbursed on or after July 1, 2019 and ahead of July 1, 2020.
Annually Federal Loan Borrowing Limits
|12 months in School (acquired Undergraduate Credits)||Dependent Undergraduate Students||Independent Undergraduate Students||Graduate Students|
(0–23 earned credits)
|$5,500 (a maximum of $3,500 subsidized)||$9,500 (a maximum of $3,500 subsidized)||n/A year that is second24–55 earned credits)||$6,500 (a maximum of $4,500 subsidized)||$10,500 (only $4,500 subsidized)||N/A|
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