Federal Direct Subsidized & Unsubsidized Stafford Loans
In order to be eligible for the Direct Subsidized and/or Unsubsidized
Stafford Loans, the student must be enrolled in at least half-time enrollment
(six credits for undergraduates and three credits for graduate students). Loan
limits vary based on dependency status and total number of completed credits.
Federal Direct Subsidized Stafford Loans, which, as of July 1, 2012 are
available only to undergraduate students, are limited by the student's financial
need, and do not accrue interest as long as the student is enrolled at least
Federal Direct Unsubsidized Stafford Loans are not limited by the student's
financial need, collect interest after the first disbursement of the loan, and
require the student to be enrolled at least half-time.
First time borrowers
Federal Stafford Direct Loan borrowers must complete both an
Entrance Counseling session and a
Master Promissory Note before these
loans can be disbursed.
In the event the Student Financial Services Center has notified the student
of needing additional documentation, this can also prevent the loans from being
disbursed until they have been received and processed.
Rates and fees
- Direct Subsidized Stafford Loan: 3.86 percent
- Direct Unsubsidized Stafford Loan: 3.86 percent
- Direct Unsubsidized Stafford Loan: 5.41 percent
*All Direct Stafford Loans are charged a 1.072 percent origination fee upon
Student financial aid will be disbursed after the 100 percent add/drop refund
period each term. Students on the modular schedule (eight week schedule), will
have their aid disbursed at the end of the 100 percent add/drop refund period
for the eight week schedule. To view anticipated disbursement dates, please
refer to the disbursements tab on your
SFSC Student Aid Portal.
After a loan has been disbursed, the Federal Department of Education will
assign it to one of their loan servicers. Students will receive a notice in the
mail to notify them of their servicer's contact information. The loan servicer
will be responsible for collecting payments and processing deferments and
forbearances on the student's loans.
Students can access their loan history and their loan servicer's contact
information by going to www.nslds.ed.gov
and clicking "Financial Aid Review" or by calling Federal Student AId
Information Center at 800-433-3243.
Students who graduate, drop below half-time or stop attending and have
borrowed Direct Stafford Loans will be required to complete an
exit counseling session.
The exit counseling must be completed even if the student plans to return to
the university or has transferred to another school.