The Subsidized Stafford Loan is a federally insured, federally subsidized loan from a bank, credit union, or other participating lender. The maximum amount a student may borrow for an academic year (i.e., summer, fall and spring) is $8,500. Repayment of interest and principal is usually deferred until after the student is no longer registered at least half-time (i.e., 6 credits). Applications are available from participating lenders and in the FAO for certain lenders.

The Unsubsidized Stafford Loan is available to eligible students enrolled at least halftime, regardless of income. Students are charged interest immediately upon disbursement of the loan until it is paid in full. The applicable rate of interest is variable, adjusted annually on July 1, not to exceed 8.25 percent. Graduate students who are enrolled half-time (i.e., at least 6 credits per semester) are eligible for a total of $22,500 annually. The cumulative maximum for a borrower is $189,125 (only $65,000 of this amount may be in subsidized loans). Students whose need is less than the annual loan limits for the Federal Subsidized Stafford loan will be able to borrow up to those loan limits under the Unsubsidized Stafford Loan program.

The Federal Perkins Loan is awarded to students who show exceptional need –as determined by the Free Application for Federal Student Aid (FAFSA). Repayment of interest and principal is deferred while the student is registered at least half-time.

The Federal Graduate PLUS Loan is available to domestic students to be able to meet the remaining cost of attendance. This is a brand new loan program with a 3% origination fee and a 8.5% interest rate. Many lenders will be offering borrower benefits to lessen the interest rate during repayment. 
PLUS loan credit worthiness requirements:

*No tax liens, judgments, or record of bankruptcy in the last 5 years
*No accounts in collection or "write-offs"
*No Federal student loans in default or delinquent status
*No accounts that are 90 days or more past due

Eligibility requirements for ALL federal loan programs:

• U.S. citizen, U.S. permanent resident, or eligible non-citizen (e.g., political refugee).
• Enrolled in a program leading to a degree and enrolled for at least half-time, maintaining satisfactory academic progress.
• Completed FAFSA for the academic year in question. With our school code listed: E00127.
• Any other additional documents requested in order to complete the financial aid file (e.g., copy of the most recent federal tax return, federal verification worksheet).