Subsidized Federal Stafford Loans

The Subsidized Federal Stafford loan* is based on financial need which is determined by a Federal formula. A loan is "subsidized" because the government pays the interest for you during the following periods:

While you are enrolled in school at least half-time.
During the six-month grace period after you stop attending school at least half-time.
During period of authorized deferment.

The Subsidized Federal Stafford loan enables you to borrow money through a bank or other lender who participates in the program. A Student Loan Application is required in addition to the FAFSA. In order to be eligible you must be enrolled at least half-time and have financial need. Loans range up to $3,500 for freshman and $4,500 for sophomores. Lower loan amounts apply if you are attending clock hour programs. The interest rate as of 7/1/08 is at a fixed rate of 6.00 percent. No interest accrues on the loan while you are enrolled at least half-time.

*Loan counseling required

Financial Aid

Subsidized Federal Stafford Loans