Unsubsidized Federal Stafford Loan as of July 1, 2022

This is a federal loan program designed to allow students who do not qualify for federal interest subsidize under the Federal Stafford Loan Program to obtain an unsubsidized loan. The maximum amount an independent student may currently borrow for the first and second academic years is $6,000 in unsubsidized loans. In addition, students may borrow $7,000 in unsubsidized loans for subsequent years with fixed interest rate (4.99%). Eligibility in graduate programs begins at $20,500 per academic year. If a student does not qualify for a Federal Stafford Loan or some portion of that loan, he/she may borrow the remaining amount under this program. The fixed interest on this loan is also capped at 4.99% and payment may be deferred until six months after the student no longer attends the university or becomes less than a half-time student. However, interest will accrue during the deferment period.