Graduate Student Stafford Loans
Federal Stafford loans are fixed-rate student loans for graduate students attending a college or university at least half time. Stafford loans are the most common and one of the lowest-cost ways to pay for school. There are two different types of graduate federal student loans, the subsidized Stafford Loan and the unsubsidized Stafford Loan.
Subsidized Stafford Loans are awarded to graduate students based on financial need. You will not be charged interest before you begin repayment or during periods of deferment. The federal government "subsidizes" the interest during these times.
Unsubsidized Stafford Loans are not awarded based on financial needs. Any eligible graduate student can take out unsubsidized stafford loans. You will be charged interest from the time the loan is disbursed, to the time the loan is repaid in full.
Stafford Loan Interest Rates
Note: Graduate Stafford Loans (both subsidized and unsubsidized) have a fixed interest rate of 6.8% through 2013.
| Academic Year | Subsidized Rates | Unsubsidized/Graduate Rates |
|---|---|---|
| 2007-08 | 6.80% | 6.80% |
| 2008-09 | 6.00% | 6.80% |
| 2009-10 | 5.60% | 6.80% |
| 2010-11 | 4.50% | 6.80% |
| 2011-12 | 3.40% | 6.80% |
| 2012-13 | 6.80% | 6.80% |
| Current Stafford Loan interest rates in effect from 07/01/2009 to 06/30/2010 | ||
Stafford Loan Limits
| Dependent Students | Annual Loan Limits |
|---|---|
| First Year | $5,500 ($3,500 subsidized/$2,000 unsubsidized) |
| Second Year | $6,500 ($4,500 subsidized/$2,000 unsubsidized) |
| Third Year and Beyond | $7,500 ($5,500 subsidized/$2,000 unsubsidized) |
| Independent Students | Annual Loan Limits |
|---|---|
| First Year | $9,500 ($3,500 subsidized/$6,000 unsubsidized) |
| Second Year | $10,500 ($4,500 subsidized/$6,000 unsubsidized) |
| Third Year and Beyond | $12,500 ($5,500 subsidized/$7,000 unsubsidized) |
| Graduate or Professional | $20,500 ($8,500 subsidized/$12,000 unsubsidized) |
| Lifetime Limits | |
|---|---|
| Undergraduate Dependent | $31,000 (Up to $23,000 may be subsidized) |
| Undergraduate Independent | $57,500 |
| Graduate or Professional |
$138,500 (Up to $65,000 may be subsidized)
or $224,000 (for Health Professionals) |
| For loans first disbursed on or after July 1, 2008. | |
