To be eligible to apply for and receive a student loan, a student must:

• Be a citizen of the United States or an eligible non-citizen
• Be admitted to a regular degree or certificate program: students classified as non-degree are not eligible for federal student loans
• Satisfy Selective Service requirements: see FAFSA for explanation
• Not have defaulted student loans
• File the Free Application for Federal Student Aid (FAFSA)
• Enroll halftime with a minimum of four credit hours: cannot include credits taken for enrichment or audit
• Maintain satisfactory academic progress

Students who do not maintain eligibility will be required to return all financial aid and may be required to start the repayment process on any federal student loan they have received.

 

Subsidized FFEL Stafford Loan

Eligibility	Financial need as determined by the FAFSA
Amount	$8,500 maximum per academic year
Interest Rate	Subsidized student loans have the interest paid while the student is enrolled at least halftime and through a (6) month grace period after the student graduates or drops below halftime.
Repayment	Begins six months after graduation or student ceases to be enrolled at least part-time.  Interest is deferred as long as the student is enrolled at least part-time.

 

Unsubsidized FFEL Stafford Load

Eligibility	Not need-based; must still file FAFSA
Amount	Combined subsidized and unsubsidized FFEL loans cannot exceed $20,500 per academic year.
Interest Rate	6.8% fixed
Repayment	Begins six months after graduation or student ceases to be enrolled at least part-time. Borrowers are responsible for interest while enrolled and during the repayment period. However, interest payments can be deferred while the student is enrolled and during their grace period.