Get a Stafford Loan
The Direct Loan Program provides three loans—Federal Stafford Loan (subsidized and unsubsidized), Federal PLUS Loan (for parents of dependent undergraduate students and for graduate/professional students), and Federal Consolidation Loan.
Stafford Loans are for undergraduate, graduate and professional degree students. You must be enrolled at least half-time to be eligible for a Stafford Loan.
You must show financial need to qualify for the subsidized loan. The federal government pays the interest that accrues while you are in school, during authorized deferment periods, and for six months after you cease to be enrolled at least half-time. You begin paying the interest when the loan enters repayment.
You are not required to show financial need to qualify for the unsubsidized loan. Unlike the subsidized loan, you must pay all interest that begins to accrue immediately upon disbursement regardless of enrollment status or loan deferments. Interest can be paid monthly or quarterly or be capitalized (added to the principal balance).
The Stafford Loan amount for an academic period cannot exceed your cost of attendance (as determined by the educational institution) minus your estimated financial aid and, if the loan is a subsidized Stafford Loan, expected family contribution.
Eligibility Criteria
To be eligible for either of these loans, you must:
- Be enrolled or accepted for enrollment at least half-time in an eligible degree or certificate program at an eligible institution.
- Have a high school diploma or its equivalent.
- Be in good standing and making satisfactory academic progress if currently enrolled.
- Be a citizen, permanent resident, or eligible noncitizen of the United States.
- Not be in default or owe a refund on any federal education grant or loan unless satisfactory arrangements have been made to repay the outstanding debt.
Financial need is determined for the subsidized loan before eligibility is determined for the unsubsidized loan. The school determines your eligibility.
Loan Limits
You may receive a subsidized loan, an unsubsidized loan, or a combination of both for an academic period. However, the amount of one loan or a combination of both loans may not exceed the loan limits for an academic year based on your dependency status and grade level and the length of the program of study in which you are enrolled.
| Grade Level | Dependent Status | Independent Status |
|---|---|---|
| First Year | $5,500 | $9,500 |
| Second Year | $6,500 | $10,500 |
| Each Remaining Year of Undergraduate Study | $7,500 | $12,500 |
| Each Year of Graduate or Professional Study | N/A | $20,500 |
The total maximum outstanding debt allowed is:
| Dependent Undergraduate | $31,000 |
|---|---|
| Independent Undergraduate | $57,500 |
| Graduate or Professional Student* | $138,500 |
*Includes any Federal Stafford Loan and/or Federal Supplemental Loans for Students received as an undergraduate.
