Loans

Federal Direct Student Loan Program (Direct Stafford Loan) 

  • Stafford Student loans let students borrow money for college at a low interest rate. Repayment begins six months after you cease to be enrolled in six or more credit hours of school.
  • You may borrow up to $3,500 in a subsidized loan, if eligible. 
  • A student who has successfully completed the first year of a program of study of undergraduate education (with a minimum of 30 credit hours), but who has not yet successfully completed the remainder of the program, may borrow up to $4,500 for the second year of study.
  • Additionally, dependent students may borrow up to $2,000 in an unsubsidized loan, and independent students may borrow up to $6,000 in an unsubsidized loan.
FDSLP Stafford Loans are either subsidized or unsubsidized. You can receive both a subsidized loan and an unsubsidized loan for the same enrollment period. 

 

Annual Student Loan Limits

  Dependent Students Independent Students
Freshman
(0-29 credit hours completed)

   $3,500 Subsidized

+ $2,000 Unsubsidized

   $5,500 combined Subsidized and Unsubsidized

   $3,500 Subsidized

+ $6,000 Unsubsidized

   $9,500 combined Subsidized and Unsubsidized

Sophomore
(30+ credit hours completed)
 

   $4,500 Subsidized

+ $2,000 Unsubsidized

   $6,500 combined Subsidized and Unsubsidized

 

   $4,500 Subsidized

+ $6,000 Unsubsidized

 $10,500 combined Subsidized and Unsubsidized




  1.  Subsidized Stafford Loan - 3.86% Fixed Interest Rate 
    • A subsidized loan is awarded on the basis of financial need. You will not be charged any interest while attending school with at least half time enrollment. The federal government "subsidizes" the interest during that period. 
  2.  Unsubsidized Stafford Loan - 3.86% Fixed Interest Rate 
    • An unsubsidized loan is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accrue (accumulate) while you are in school or during other periods of nonpayment, it will be capitalized – that is, the interest will be added to the principal amount of your loan, and additional interest will be based on that higher amount.
 
 

 

How to Apply

For both the subsidized and unsubsidized Federal Stafford Loans, you must first submit a Free Application for Federal Student Aid (FAFSA), as described under "Grants – How to Apply".

After the financial aid process has been completed, you must submit the following to complete your loan file:
    • A completed Triton College Loan Request Form 
    • A completed Master Promissory Note (online at www.studentloans.gov
    • An Entrance Interview for all new borrowers (online at www.studentloans.gov
  
For a more detailed explanation of the Direct Stafford loan application process, please see the information posted on www.studentloans.gov.