Unsubsidized Federal Direct Stafford Loans

Unsubsidized Federal Direct Stafford Student Loan

  • Maximum amount for dependent students:
    • $5,500 (freshmen) effective August 2009
    • $6,500 (sophomores) effective August 2009
    • $7,500/year (juniors and seniors)
  • Maximum amount for independent students:
    • $9,500 (freshmen) effective August 2009
    • $10,500 (sophomores) effective August 2009
    • $12,500/year (juniors and seniors)
    • $20,500/year (graduate students) effective August 2009
  • Interest rate: Varies, with a maximum of 8.25 percent. Interest begins accruing once funds are disbursed
  • You must enroll on at least a half-time basis to receive a Stafford Loan for each term of the loan. Half-time means 6 credit hours per semester for undergraduate students and 5 credit hours per semester for graduate students.
  • Repayment period: Several plans are available
  • Repayment and interest charges can be deferred until six months after graduation or when your enrollment status drops below half-time (again, this means less than 6 credit hours for undergraduates, less than 5 for graduate students). An exit interview is required before you begin repayment.
  • Apply by completing the FAFSA.

Typical Estimated Payments

Payments are calculated based on a fixed interest rate of 6.8 percent.

Debt when you begin repayment

$3,500

$5,000

$7,500

$10,500

Monthly payment

$50

$58

$83

$121

Total interest charges

$971

$1,905

$2,857

$4,000

Total amount repaid

$4,471

$6,905

$10,357

$14,500