Stafford Loan Limits/Interest Rates
For students enrolled as regular students in eligible programs, annual Stafford loan limits are as follows:
| Dependent Students (Except Students Whose Parents Cannot Borrow PLUS) |
Base Amount |
Additional |
|
Freshman |
$3,500 |
$2,000 |
| Sophomore |
$4,500 |
$2,000 |
| Junior or Senior |
$5,500 |
$2,000 |
| Independent Undergraduate Students and Dependent Students Whose Parents Cannot Borrow PLUS |
Base Amount |
Additional |
|
Freshman |
$3,500 |
$6,000 |
| Sophomore |
$4,500 |
$6,000 |
| Junior or Senior |
$5,500 |
$7,000 |
| Graduate and ProfessionalStudents |
Base Amount |
Additional Unsubsidized Loan Amount |
|
|
$8,500 |
Unchanged at $12,000 |
Aggregate Loan Limits
Undergraduate Dependent Students: $31,000 (no more than $23,000 of which can be subsidized)Undergraduate Independent Students: $57,500 (no more than $23,000 of which can be subsidized)
Graduate and Professional Students: currently $138,500 (no more than $65,500 of which can be subsidized)
2010-2011 Interest and Fees
| Loan Program: | ||
|---|---|---|
| Interest | Fees | |
| Federal Subsidized Stafford Undergraduates | 4.5% | 0.5% |
| Federal Unsubsidized Stafford Undergraduates | 6.8% | 0.5% |
| Federal Subsidized/Unsubsidized Stafford Graduates | 6.8% | 0.5% |
| Federal Parent PLUS | 7.9% | 2.5% |
| Federal Graduate PLUS | 7.9% | 2.5% |
The Direct Lending Stafford Loan Program will have a 0.5% fee deducted from the loan amount. (Example: If you borrow $4500, you will actually receive $4,477.50, or $22.50 less.) Another 1.0% fee will be deferred until you go into repayment. You must make the first 12 on-time monthly loan payments to maintain this benefit. Otherwise, the 1.0% will be added to your loan balance.