In order to be eligible for the Direct Subsidized and/or Unsubsidized Stafford Loans, the student must be enrolled in at least half-time enrollment (six credits for undergraduates and three credits for graduate students). Loan limits vary based on dependency status and total number of completed credits.
Subsidized vs. Unsubsidized
Federal Direct Subsidized Stafford Loans, which, as of July 1, 2012 are available only to undergraduate students, are:
- Limited by the student's financial need
- Do not accrue interest as long as the student is enrolled at least half-time
Federal Direct Unsubsidized Stafford Loans are:
- Not limited by the student's financial need,
- Collect interest after the first disbursement of the loan
- Require the student to be enrolled at least half-time
First time borrowers
In the event the Student Financial Services Center has notified the student of needing additional documentation, this can also prevent the loans from being disbursed until they have been received and processed.
Rates and fees
- Direct Subsidized Stafford Loan: 4.45 percent
- Direct Unsubsidized Stafford Loan: 4.45 percent
- Direct Unsubsidized Stafford Loan: 6.00 percent
*All Direct Stafford Loans are charged a 1.069 percent origination fee upon disbursement.