■ You must be the biological or adoptive parent (or, in some cases, the stepparent) of the student for whom you are borrowing.
■ Your child must be a dependent student who is enrolled at least half-time at a school that participates in the Direct Loan Program. Generally, your child is considered dependent if he or [...]
You apply for a Direct Subsidized and Unsubsidized Loan and other federal student aid by completing a
Free Application for Federal Student Aid (FAFSA). The information from your application will be shared with
the schools that you have identifi ed on the FAFSA. Some schools have additional application procedures—check with your school’s fi nancial aid offi ce [...]
The amount students can borrow each year for subsidized and unsubsidized Stafford loans depends on their grade level and on whether they are dependent students or independent students.
Dependent student
Independent student1
1st-year undergraduate
$3,500 / $2,0002
$3,500 / $6,0002
2nd-year undergraduate
$4,500 / $2,000
$4,500 / $6,000
3rd- and 4th-year undergraduate
$5,500 / $2,000
$5,500 / $7,000
Graduate/professional
NA
$8,500 / $12,000
1This includes dependent students whose parents are [...]
Subsidized Stafford Loans are for students with financial need as determined by federal regulations. No interest is charged while you are in school at least half-time, during your grace period, and during deferment periods.
Unsubsidized Stafford Loans are for students and are not based on financial need. Interest is charged during all periods.
PLUS Loans are low-interest [...]
Direct Loans are low-interest loans for students and parents to help pay for the cost of a student’s education after high school. The lender is the U.S. Department of Education (the Department) rather than a bank or other fi nancial institution.
Direct Loans are:
■ Simple—You borrow directly from the federal government and have a single contact—the [...]
