Student Financial Aid
Stafford
Loans
STAFFORD
LOAN LIMITS & ORIGINATION FEES
The
maximum Stafford Loan a student may borrow for an academic year
is determined by the student’s dependency status (as
determined on the FAFSA), the number of academic credits the
student has earned at the time the loan is processed and other
aid the student may be receiving.
Effective
for Stafford Loans first disbursed on or after July 1, 2008
Additional Unsubsidized Federal Stafford Loan limits
applicable to Undergraduate Students are increased
for loans first disbursed on or after July 1, 2008.
|
Grade Level
|
Dependent Student
|
Independent Student or
Dependent Student whose Parent is ineligible for PLUS
loan
|
|
Freshman
(0-23 credits)
|
$5,500
(max $3,500
subsidized)
|
$9,500
(max $3500 subsidized)
|
|
Sophomore
(24-53 credits)
|
$6,500
(max $4500 subsidized)
|
$10,500
(max $4500 subsidized)
|
|
Junior
(54-83 credits)
|
$7,500
(max $5500 subsidized)
|
$12,500
(max $5500 subsidized)
|
|
Senior
(84+
credits)
|
$7,500
(max $5500 subsidized)
|
$12,500
(max $5500 subsidized)
|
|
Graduate
& Law Programs
|
N/A - all grad & law students are considered independent
|
$20,500
(max $8500 subsidized)
|
NOTE:
To be eligible for Graduate/Law loan limits, Graduate/Law
students must be
enrolled in 6 credit hours that can be applied to the
Graduate/Law program requirements
IMPORTANT FEE INFORMATION
Stafford Loans through the HELPP Loan Program guaranteed prior
to May 1, 2008 will have zero fees
Stafford Loans disbursed
prior to July 1, 2008, the loan disbursements are reduced by
fees of 2.5%
(1.5% origination fee + 1% default fee)
Stafford Loans disbursed
after July 1, 2008 are reduced by loan fees of 2%
(1% origination fee + 1% default fee)
***************************
AGGREGATE
STAFFORD LOAN LIMITS
Effective
July 1, 2008
|
Dependent
Undergraduate Student |
Independent
Undergraduate Student or Dependent Student whose parent is
ineligible for PLUS loan due to adverse credit |
Graduate/Professional
Student |
| $31,000
(no more than $23,000 can be subsidized) |
$57,500
(no more than $23,000 can be subsidized) |
$138,500
(no more than $65,500 can be subsidized) Graduate debt
limit includes amount borrowed as an undergraduate
student. |
|
.
