Types of Aid
- Types of Aid
- Undergraduate Grants
- Undergraduate Work-Study
- Undergraduate Loans
- Undergraduate Alternative Loans
- Emergency Tuition Loan Application
General
Online Resources
- CatsWeb
- Cost of Attendance for a First-Time Entering Full-Time Student
- Direct Deposit Sign Up--Work-Study
- FA Answer Bank
- Feedback Form
- Find Work Study Jobs
- Job Searching/Career Prep
- My Financial Aid
- Net Price Calculator
- Pay Tuition
- Veterans Affairs
- Freshman National and Assured Scholarship Acceptance
- Money Savvy Cats
Undergraduate Loans
While Stafford (William D. Ford Federal Direct) Loans must eventually be repaid, they can provide you with the funds needed to finance your higher education. Direct Loans are offered at relatively low interest rates and with good repayment arrangements. Before you take out a loan, be sure to develop a budget to make sure you borrow only what you need. For more student loan information (interest rates, repayment and more), visit the Department of Education.
Difference between subsidized and unsubsidized
Annual loan limits
Aggregate loan limits
Repayment
Difference between subsidized and unsubsidized
If you are borrowing a Direct Loan, you may be awarded a subsidized or unsubsidized loan depending on your financial need.
| Type | Basis of Award |
| Subsidized | |
| Unsubsidized | Student does not have financial need. |
If you are awarded a subsidized loan, interest will not accrue on your loan while you are enrolled at least half-time. If you are awarded an unsubsidized loan, you will be responsible for the interest while in school. You will receive quarterly interest statements on your unsubsidized loan from your lender. It is recommended that you pay this interest every quarter. If you do not, the interest will be added to your loan amount, which will result in your paying interest upon interest.
| Annual Loan Limits | |||
| Dependent Undergraduates | Subsidized | Unsubsidized | Total |
| First Year | $3,500 | $2,000 | $5,500 |
| Second Year | $4,500 | $2,000 | $6,500 |
| *Third Year and Fourth Year (includes second bachelor's) | $5,500 | $2,000 | $7,500 |
| *Independent Undergraduates | Subsidized | Unsubsidized | Total |
| First Year | | $6,000 | |
| Second Year | | $6,000 | |
| Third Year and Fourth Year (includes second bachelor's) | | $7,000 | |
| Aggregate Loan Limits | |||
| Aggregate Limits | Subsidized | Unsubsidized | Total |
| Dependent Undergraduates | $23,000 | $8,000 | $31,000 |
| Independent Undergraduates | $23,000 | $34,500 | $57,500 |
You must begin repayment of your student loan, once you:
- Withdraw from school
- Drop below half-time status (fewer than 6 hours during a long semester)
- Graduate
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