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Subsidized Stafford Loans
This is a need based loan program that provides low
interest loans to students who are attending Schreiner at
least half-time. If you are eligible for a Stafford
Subsidized loan, the federal government pays the interest on
the loan while you are enrolled in school at least half-time
(6+ credit hours per semester). Annual loan limits are:
$3,500 – First Year Students (0-29 credit hours completed &
accepted by Registrar)
$4,500 – Second Year Students (30-59 credit hours completed
& accepted by Registrar)
$5,500 – Third & Fourth Year Students (+60 credit hours
completed & accepted by Registrar)
$8,500 – Graduate & Professional Students
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Stafford Unsubsidized Loan for Dependent Students
This is non-need based program that provides low-interest
loans to students who are attending Schreiner at least
half-time. This loan is available to dependent students who
do not demonstrate financial need. The student is
responsible for the interest that accrues on the Stafford
Unsubsidized loan during in-school and deferment periods.
Loan limits have been increased to $2000 per academic year –
in addition to year specific loan limits.
PLEASE NOTE: ADDITIONAL
UNSUBSIDIZED LOAN MONEY MAY BE AVAILABLE TO DEPENDENT
STUDENTS IF THE PARENT HAS APPLIED FOR AND BEEN DENIED A
PARENT PLUS LOAN.
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Stafford Unsubsidized Student Loan for Independent
Students
This loan is available to independent undergraduate and
graduate students.
The annual loan limits are:
$6,000 -- First & Second Year Undergraduates
$7,000 -- Third & Fourth Year Undergraduates
$7,000 -- Students with undergraduate degrees who are
enrolled in courses that will prepare them to enter a
graduate program, as well as students enrolled in coursework
for professional certification or employment as a teacher.
$12,000 -- Graduate students
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Loan Type |
Interest Rate |
Undergraduate Unsubsidized
Stafford Loan |
6.8% |
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Undergraduate Subsidized
Stafford Loan |
6.0% on or after July 1, 2008
& before July 1, 2009
5.6% on or after July 1, 2009
& before July 1, 2010
4.5% on or after July 1, 2010
& before July 1, 2011
3.4% on or after July 1, 2011
& before July 1, 2012
6.8% on or after July 1, 2012
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Graduate Unsubsidized
Stafford Loan |
6.8% |
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Graduate Subsidized
Stafford Loan |
6.8% |
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Parent PLUS Loan |
8.5% |
Apply for a Stafford Loan:
View the Stafford, Plus and Alternative Lender List
Guidelines @
http://www.schreiner.edu/financial_aid/SU2008-2009Lenders102908.pdf
Step 1.
Complete a FAFSA at:
http://www.fafsa.ed.gov
Step 2.
Review your award letter from the Office of Financial Aid.
Determine your cost using the award letter insert. Once
you’ve determined how much of the offered loan you need to
pay your expenses, continue to step 3.
Step 3.
Accept and Complete Your Stafford Student
Loan Application at:
https://lbw.tgslc.org/LBW/start.do
Repayment of principal and interest begins six months after
the student ceases the course of study or six months after
the borrower ceases at least half-time enrollment. The
borrower will be assessed a small guarantee fee. Maximum
subsidized loan debt is $23,000 for undergraduates and
$65,500 for graduate or professional study.
Loans By Web Instructions: http://www.schreiner.edu/financial_aid/LoansbyWebinfo.pdf
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