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.