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One Stop Enrollment



FSL Requirements

Federal Stafford Loan Information & Requirements

Annual Borrowing Limits


Repayment Terms

 

Interest

 

Fees

 

Academic Level

 

Dependent

 

Independent Student

 

Subsidized:

Repayment begins
6 months after you
graduate or fall below half-time
status. The monthly
payment is set to pay
off your loan in 10
years.  Principal
payments are
deferred while you are in school at least
half-time; interest is
paid by the government
during enrollment,
grace & deferment periods.

   
         
  Maximum Sub +
Unsub
Max Sub + Add'l Unsub = Max    
         
Freshman $5,500 sub
+ $2,000
Unsub
$3,500 +
$6,000 =
$9,500
   
         
Sophomore $6,500 sub
+ $2,000
Unsub 
$4,500 +
$6,000 =
$10,500
   
         
Aggregate Borrowing Limits
     

 

Dependent Undergrad

 

 

Independent 

Undergrad

 

$31,000

 

 


$57,500

(no more than $23,000 of which can be subsidized) 

 

N/A

 

Unsubsidized:

Repayment terms are
the same. However,
interest is the
responsibility
of the
student from
the date of
disbursement.
Both principal
and interest
payments can
be deferred
while you
are in school at
least half-
time. Interest
only can be
paid while
you are in
school or
may be added to the principal (capitalized)
at your request.

 

 

The interest rate is
fixed
as of
July
1st
with
a cap of 8.25%

The rate
for 2008-2009:
6.00%.

 

 

You may pay
a 3% Origination
fee and up
to 1%
Guarantee
fee depending
on the
lender
you select.

Both are
deducted
from
your loan
amount.