FEDERAL LOAN FACTS
Loan Program:	Subsidized Stafford	Unsubsidized Stafford	PLUS (Parent Loan)
Eligibility:	Based on Income	No Income Restrictions
Yearly Loan Maximum:	Year 1 - $3,500 Year 2 - $4,500 Year 3 to 5 - $5,500	Dependent Student: Same as Subsidized Stafford (less any amount of Subsidized Federal Loans received)	Cost of education less any other financial aid awarded (PLUS Loan Pre-Approval)
Interest Rates:	Loans disbursed on or after July 1, 2006: Fixed Rate 6.8% Loans disbursed prior to July 1, 2006: In-school, grace, deferment rate: 6.62% Repayment rate: 7.22%		Fixed Rate 8.5% Before 7/1/06: 8.02%

For most loan options: A 3% Origination Fee is subtracted.
The maximum time to repay the loan is 10 years.
*Dependent students whose parents are denied a PLUS are eligible to borrow the additional Independent Student Loan amounts.

First-Time Student Borrowers
Federal law requires all first-time student borrowers to complete a Loan Entrance Counseling. During this session, you will receive information about your rights and responsibilities as a student loan borrower. Entrance Counseling sessions are offered during new-student orientation in the fall semester. You may opt to complete the counseling on-line. Just click on Entrance Counseling to get started. At the end of the session, print and sign the certification page then turn it in to the Financial Aid Office.

Subsidized and Unsubsidized - What's the Difference?
A Subsidized loan is awarded based on need. "Subsidized" means that the federal government will pay all interest on the loan until you graduate or drop below half time. After you graduate or leave school, you have a six-month grace period before you begin paying both the loan and any interest. Unlike the Subsidized loan, Unsubsidized loans are not based on need. Unsubsidized loan limits are the same as Subsidized loan limits; however, you are responsible for all interest on the loan from the day the loan is dispursed. You may pay the interest while you are in school, or you may pay the interest after you graduate along with the amount you borrowed.

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