Undergraduate Stafford Loans
Federal Direct Stafford Loans are offered through the Federal Government and are available to all Students that complete a Free Application for Federal Student Aid (FAFSA).
Direct Subsidized Loans
- Eligibility is based upon financial need.
- This loan will not accrue interest while the student is in at least 6 credit hours, through grace period (six months starts once the student stops attending at least 6 credit hours) and while in deferment.
- Limits vary with class standing.
- Fixed interest rate of 3.73% (Disbursed on or After July 1, 2021 and Before July 1 2022).
- No credit check
Direct Unsubsidized Loans
- All students are eligible for Unsubsidized Stafford loans.
- This loan accrues interest starting at the disbursement of the loan.
- Interest may be paid during or after the grace period is over, as well as while the student is currently enrolled.
- Fixed interest rate of 3.73% (Disbursed on or After July 1, 2021 and Before July 1 2022).
- No credit check
How to Apply
By completing the Free Application for Federal Student Aid (FAFSA) your initial application is already complete. Your school will award you the amounts that you qualify for. You will then need to accept the amount you wish to borrow through your goPFW portal. Once you have accepted the loan, you will need to complete Loan Entrance Counseling and the Federal Direct Stafford Loan Master Promissory Note at studentaid.gov.
Transfer students that have completed the Master Promissory Note do not need to complete another one. However, they will need to complete Entrance Counseling again.
Students who are new borrowers on or after July 1, 2013, the period to which a student is eligible to borrow subsidized loans will be limited to 150% of the length that is published for their institution (i.e. a program that requires 120 credit hours, listed as a
At
Near the end of the
Loan Limits for Dependent Students
Class Level | Base Amount(May be subsidized and/or unsubsidized) | Additional Unsubsidized | Annual Loan Limit |
---|---|---|---|
Freshmen (0-29 credits): |
$3500 |
$2000 |
$5500 |
Sophomores (30-59 credits): |
$4500 |
$2000 |
$6500 |
Juniors & Seniors (60+ credits): |
$5500 |
$2000 |
$7500 |
Dependent students may borrow a maximum lifetime limit of $31,000. A limit of $23,000 is set for the subsidized portion.
Loan Limits for Independent Students
Class Level | Base Amount(May be subsidized and/or unsubsidized) | Additional Unsubsidized | Annual Loan Limit |
---|---|---|---|
Freshmen (0-29 credits): |
$3,500 |
$6,000 |
$9,500 |
Sophomores (30-59 credits): |
$4,500 |
$6,000 |
$10,500 |
Juniors & Seniors (60+ credits): |
$5,500 |
$7,000 |
$12,500 |
Independent students may borrow a maximum lifetime limit of $57,500. A limit of $23,000 is set for the subsidized portion.
Terms and Conditions
- The standard repayment on Stafford loans is a 10-year repayment period that starts six months after graduation. Explore your repayment option with the repayment calculator.
- There is a net origination fee of 1.057%.