Admissions
Advising
Financial Aid
Placement Testing
Private Scholarships
Registration

Open Seat Updates You can check to see if seats are available in specific classes before you go to register. Find out more.

Quick Search

Admissions > Financial Aid > Stafford

FEDERAL STAFFORD LOAN PROGRAM INFORMATION

Federal Stafford loans are available to classified students who are enrolled at least half-time (6 credits) to help pay the cost of their educational expenses. The interest rate on these loans are variable, and may change annually but will not exceed 8.25%.

There are two types of Federal Stafford loans:

Subsidized:

Awarded to students who demonstrate financial need as determined by the Financial Aid Office. Interest is paid by the Federal government while you are enrolled at least half-time and during the six-month grace period after leaving school.

Unsubsidized:

Typically awarded to students who do not demonstrate financial need or may be used to supplement a Subsidized Stafford loan. You are responsible for interest that accrues on the loan, which starts after the loan is disbursed. Although, principal payments can be postponed; interest will be capitalized, meaning the lender will add the accrued interest to the principal balance you owe.

The Master Promissory Note

If you accept a Federal Stafford Loan, you must complete a Master Promissory Note (MPN) confirming to the lender that you will repay funds that you borrow under this loan program. The MPN eliminates the need to complete a promissory note every year to receive additional loans (in most cases). You will confirm the amount of loan funds requested for each academic year through the Federal Stafford Loan Request Form.

Annual Loan Eligibility