Borrowing Limits & Terms
A Stafford Loan allows dependent undergraduates to
borrow up to $5,500 their freshman year, ($3500 subsidized).
$6,500 their sophomore year,(
$7,500 for each remaining year ($5500 subsidized).
Independent students can borrow an
additional unsubsized $4,000 each of the first two years and an
additional $5,000 each of the remaining years).
Graduate students can
borrow up to $20,500 per year.
The Federal Stafford is a no-collateral,
federally-guaranteed loan program. The interest rate is fixed at 6.8%.
No payments are required until six months after you
finish or leave school.