Federal Loans
Federal Stafford Loan
Eligibility:
Minimum half-time enrollment
Subsidized:
This is a long-term, low-interest federal loan. Subsidized
means the interest is paid by the Federal Government while you are in school
at least half-time or during the grace period. This is a need-based loan as
determined by the FAFSA information. This loan must be repaid.
Unsubsidized:
This is a long-term, low-interest federal loan. Unsubsidized
means the student is responsible to pay the interest on the loan. Interest payments
can be capitalized, which means they will be deferred with the principal while
you are in school. Interest on unsubsidized loans accrues from the start of
the loan. This is a non need-based loan as determined by the FAFSA information.
This loan must be repaid.
Continued Eligibility:
You must make academic progress to continue receiving
loans and financial aid. Please refer to the graduate catalog for further information.
Amount:
Advanced and Teaching Credential Students:
Up to $10,500 Combination of Subsidized and Unsubsidized
(Depending on eligibility determined by the FAFSA)
Masters and Doctoral Students:
Up to $18,500 Combination of Subsidized and Unsubsidized
(Depending on eligibility determined by the FAFSA)
Renewable:
Yearly - Must complete the FAFSA and Graduate Stafford Loan Worksheet every
year.
Deadline:
June 30 – at the end of the academic year
Funding:
Lending Agencies
Origination Fee of up to 2 percent plus a 1 percent Federal Default Fee
Interest:
Fixed at 6.8 percent
Repayment:
Six months after you graduate or drop below half-time unless you have previously
used your grace period. Standard repayment is ten years.
Federal Graduate P.L.U.S. Loan (STUDENTS ONLY)
Eligibility:
- Apply for the maximum amount of Federal Stafford loan
- You must be a U.S. citizen or eligible non-citizen and have a valid Social Security number.
- You must meet basic eligibility requirements. If you cannot meet the requirements, you may be eligible if you have a creditworthy endorser/cosigner.
Continued Eligibility:
You must make academic progress to continue receiving loans and financial aid.
Please refer to the graduate catalog for further information.
Amount:
You may borrow up to the cost of attendance, minus any other aid, scholarship
or loans.
Renewable:
Yearly – Must complete the FAFSA every year
Deadline:
June 30 – at the end of the academic year
Funding:
Lending Agencies
Origination Fee of up to 3 percent plus a 1 percent Federal Default Fee
Interest:
Fixed at 8.50 percent
Repayment:
Begins within 60 days of the last disbursement, but you may postpone payment
while you’re in school at least half time by contacting your lender.
Federal Parent P.L.U.S. Loan (PARENTS ONLY)
Eligibility:
- Borrower must be a parent of a teaching or advanced credential student who is less than 24 years of age.
- Apply for the maximum amount of Federal Stafford loan
- You must be a U.S. citizen or eligible non-citizen and have a valid Social Security number.
- You must meet basic eligibility requirements.
Continued Eligibility:
The student must make academic progress to continue receiving loans and financial aid.
Please refer to the graduate catalog for further information.
Amount:
You may borrow up to the cost of attendance, minus any other aid, scholarships,
or loans.
Renewable:
Yearly – Must complete the FAFSA every year
Deadline:
June 30 – at the end of the academic year
Funding:
Lending Agencies
Origination Fee of up to 3 percent plus a 1 percent Federal Default Fee
Interest:
Fixed at 8.50 percent
Repayment:
Begins within 60 days of the last disbursement, but you may postpone payment
while the student is in school at least half-time by contacting your lender.
