Unsubsidized Stafford Loan limits are calculated in combination with any amounts borrowed under the Subsidized Stafford Loan. Annual combined amounts cannot exceed the following:
| Annual combined loan amounts (subsidized + unsubsidized) |
|
| Undergraduate dependent student, first year | $5,500 |
| Undergraduate dependent student, second year | $6,500 |
| Undergraduate dependent student, third year | $7,500 |
| Undergraduate dependent student, fourth year | $7,500 |
| Undergraduate independent student, first year | $9,500 |
| Undergraduate independent student, second year | $10,500 |
| Undergraduate independent student, third year | $12,500 |
| Undergraduate independent student, fourth year | $12,500 |
| Aggregate loan amounts (subsidized + unsubsidized over 4 years) |
|
| Undergraduate dependent | $31,000 |
| Undergraduate independent | $57,500 |
For the 2024-25 academic year, the interest rate will be a fixed rate of 6.53 percent. Interest accrues while the student is in school. Students may choose to make quarterly interest payments or have the interest deferred and capitalized before repayment. A net 1.057 percent processing fee is deducted from the loan proceeds when the funds are disbursed.
Repayment begins six months after the last date of half-time enrollment.
Award is renewed only if all necessary forms are filed each year and the student continues to meet eligibility requirements. Students may not be required to complete entrance counseling and MPN if these requirements were previously completed.
