Stafford Loans, cont…
nInterest Rate: 6.8% (subsidized=no interest in school)
nBase limit is
combination of subsidized and unsubsidized
nCan request $2000 additional unsubsidized per year.
nAnnual Stafford Loan Limits:
nFreshmen $3500 Base + $2000 Unsub
($2750/semester)
nSophomore $4000
Base + $2000 Unsub ($3000/semester)
nJunior $5500 Base + $2000 Unsub
($3750/semester)
nSenior $5500 Base + $2000 Unsub
($3750/semester)
nAggregate (Total) Loan Limits:
n Dependent
student: $31,000 ($23,000 Sub limit)
nRepayment: $125/month
per $10,000 borrowed.
nAbout $450/month for 10 years if borrow $31,000