Stafford Loan
Borrowing Limits & Terms
A Stafford Loan allows dependent undergraduates to borrow up to
$3,500 their freshman year, $4,500 their sophomore year, and $5,500
for each remaining year (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
$18,500 per year.
The Federal Stafford is a no-collateral, simple-interest, 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.
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