You must complete the Free Application for Federal Student Aid (FAFSA) and any other forms required to complete your file if you are interested in applying for a Federal Stafford Loan. For an explanation on the types of loans available, go to Types of Financial Aid.
Annual loan limits depend on your length of enrollment, year in school, and dependency status. You will be considered for the maximum amount of loans that you qualify for. You can never borrow more than the cost of education, less other financial aid received. Please note that the combined subsidized and unsubsidized Stafford annual eligibility is as follows:
Annual Stafford Loan Limits for Dependent Students
| Grade Level | Annual Amount | Important Note |
| Freshman | $5,500 | $3,500 Maximum Subsidized |
| Sophomore | $6,500 | $4,500 Maximum Subsidized |
| Junior/Senior | $7,500 | $5,500 Maximum Subsidized |
Annual Stafford Loan Limits for Independent Students
| Grade Level | Annual Amount | Important Note |
| Freshman | $9,500 | $3,500 Maximum Subsidized |
| Sophomore | $10,500 | $4,500 Maximum Subsidized |
| Junior/Senior | $12,500 | $5,500 Maximum Subsidized |
| Graduate | $20,500 | Unsubsidized Loans Only |
All students who meet the eligibility criteria, regardless of income, may be eligible to receive a Federal Stafford Loan. You will first be considered for a Subsidized Federal Stafford Loan. The Federal government pays the interest on this loan while you are in school.
If you are not eligible for the Subsidized Federal Stafford Loan, you will then be considered for the Unsubsidized Federal Stafford Loan. You pay the interest for this loan while you are enrolled in school. Interest can be paid monthly, quarterly, or can be added to the loan principal (capitalized).
Both the Subsidized and Unsubsidized Federal Stafford Loans are subject to an origination fee. All fees will be deducted from loan proceeds prior to disbursement.
Federal PLUS Loans are loans that parents borrow for dependent children. PLUS Loans are not based on income, but the parent borrower must undergo a credit check. Complete the Parent PLUS Loan Application at www.studentaid.gov.
Private Loans are based on your credit history and have higher interest rates. For more information, please visit our webpage, Private Loans.
