Federal Loans
Federal student loans generally have much lower interest rates than other kinds of loans and can save you money in the long run. You must complete a FAFSA to apply.
Federal Stafford loans are for students with qualifying financial need. On federal Stafford subsidized loans, the government pays the interest for you during the time you are in school. On federal Stafford unsubsidized loans, you pay the interest. Limits on how much students can borrow per loan are based on dependency status and academic classification.
Borrowing limits for federal Stafford loans for dependent undergraduate students
| Classification | Maximum amount for subsidized loan |
| Freshman | $3,500 |
| Sophomore | $4,500 |
| Junior or Senior | $5,500 |
Graduate students are also eligible for Stafford loans. Get more information
In addition to Stafford loans, Parent PLUS loans are available to parents of dependent, undergraduate students to fund a child’s college education. Eligibility is based on credit history, not financial need, and parents may borrow as much as needed. Visit www.parentplusloan.com for more information.
Satisfactory Academic Progress Policy for Federal Student Financial Aid 