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​​​​Student Aid Reference Sheet

Stafford Loans Interest Rate

  • Unsubsidized Stafford Loans = 6.8%
  • Subsidized Stafford Loans borrowed by undergraduate students
    • First Disbursed Between July 1, 2011 and June 30, 2013 = 3.4%1
      Annual Subsidized Limits
  • 1st Year Undergraduates = $3,500
  • 2nd Year Undergraduates = $4,500
  • Remaining Undergraduate Years = $5,500
  • Preparatory Coursework Needed to Enroll as Undergraduate = $2,625
  • Preparatory Coursework Needed to Enroll in Graduate/Professional Program if Student has a Baccalaureate = $5,500
  • Teacher Certification if Student has a Baccalaureate = $5,500 Annual Unsubsidized Limits
  • Dependent undergraduates whose parents can borrow PLUS = $2,000
  • 1st and 2nd year undergraduate dependent students whose parents cannot borrow PLUS and independent students = $6,000
  • Remaining undergraduate years for dependent students whose parents cannot borrow PLUS and independent students = $7,000
  • Preparatory Coursework Needed to Enroll as Undergraduate = $6,000
  • Preparatory Coursework Needed to Enroll in Graduate/Professional Program if Student has a Baccalaureate = $7,000
  • Teacher Certification if Student has a Baccalaureate = $7,000
  • Graduate/professional students = $20,500 Aggregate Limits
  • Undergraduate
    • Dependent students = $31,000 (up to $23,000 may be subsidized)
    • Independent students and dependent students whose parents cannot borrow PLUS = $57,500 (up to $23,000 may be subsidized)
  • Graduate students
    • Subsidized = $65,500 (includes undergraduate borrowing)
    • Unsubsidized = Defined by the U.S. Department of Education

Pell Grant2

Annual Minimum Award - $606
Annual Maximum Award - $5,920

PLUS Loans

Interest Rate = 7%
Annual maximum depends on cost of attendance and other financial aid received

Federal Perkins Loans

Interest Rate = 5%
Annual Limits

  • Undergraduate = $5,500
  • Graduate = $8,000


Aggregate Limits

  • Undergraduate
    • $11,000 for students who have not completed 2 years
    • $27,500 for all other students
  • Graduate
    • $60,000 (includes loans borrowed at undergraduate level)

Study Abroad

  • Annual and aggregate limits can be 20% higher

Teacher Education Assistance for College and Higher Education (TEACH) Grant

Annual Limit

  • All students = $4,000

Aggregate Maximums

  • Undergraduate = $16,000
  • Graduate = $8,000

Eligibility Requirements

  • 3.25 GPA or qualifying score on admissions test
  • Agree to teach full-time at least 4 years at a school with a high percentage of low-income students within 8 years of graduation
  • Agree to teach a specific subject

 

Federal Supplemental Educational Opportunity Grant (FSEOG)

Annual Minimum Award

  • $100

Annual Maximum Award

  • $4,000

Aggregate Limit

  • None

Study Abroad

  • $4,400 annually for students in approved programs

 

1 The interest rate for loans first disbursed on or after July 1, 2013, has not been set by Congress. The interest rate could be as high as 6.8%.
2 These are anticipated award amounts. Congress has not yet appropriated funds for 2013-14 Federal Pell Grant awards.

 

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