Stafford Loans

A Federal Stafford Student Loan is a low interest, need-based loan to assist you in meeting your educational costs. These loans are funded by lending institutions and are insured by the state and/or federal government. The federal government pays the interest on these loans while you are in school and repayment is deferred until after graduation or you otherwise leave school. If you wish to apply for a Federal Stafford Student Loan you must complete the FAFSA and establish calculated need. The maximum amounts available are as follows: First year undergraduate students $3500; Second year undergraduate students $4500; Third and Fourth year undergraduate students $5500. Graduate students may barrow $8,500. Cumulative ceiling for dependent undergraduate students may not exceed $23,000. Cumulative ceiling for independent undergraduate students may not exceed $46,000 (no more than $23,000 may be in subsidized loans). Cumulative ceiling for graduate students, including undergraduate indebtedness may not exceed $138,500 (no more than $65,500 may be in subsidized loans).

 For information on Stafford Loans go to http://aar.calarts.edu/aid/stafford.htm [1]

Loan Counseling

Students who borrow under the Federal Family Education Loan Program are required to complete entrance counseling before receiving loan proceeds from their first loan and exit counseling shortly before graduating or otherwise leaving school.

Stafford Loan Entrance Counseling [2]

Stafford Loan Exit Counseling [3]