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
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
Annual Maximum Award
Aggregate Limit
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.