Federal Student Aid
Federal Direct Stafford Unsubsidized Loan
Students may borrow a Federal Direct Unsubsidized Stafford Loan given that they meet certain criteria. This loan is not awarded on the basis of financial need. Interest will accrue on the loan as soon as it disburses and will continue to accrue until it is paid in full. You are not required to take the full amount of what is offered to you; you are given the option to decline the entire amount or a partial amount.
We encourage students to make payments toward their loan interest while they are in school. To do this, find your lender information on the National Student Loan Data System (NSLDS) at www.nslds.ed.gov and contact them to set up a payment schedule.
- Not based on need; students may qualify without showing financial need.
- Student must be enrolled at least half-time (six credits or the equivalent) to be eligible to receive the funds.
- Fixed interest rate of 6.8%; interest accrues while in school and during grace period.
- Six month grace period (before one is required to make payments).
- Student may be awarded up to $20,500 per academic year.
- Unless a student will be attending for only one semester, half of the total requested amount will disburse in the fall and half of the total requested amount will disburse in the spring.
- A loan fee of 1% will get taken off of each disbursement. (Due to the federal sequester, the Stafford Loan origination fee has increased to 1.05%.)