ASB > Personal > Loans & Lines of Credit > Student Loans

Subsidized Stafford Loans

Unsubsidized Stafford Loans

PLUS Loans

Eligibility

Need-based
Full- or half-time undergraduate students
Full- or half-time graduate students

Not need-based
Full- or half-time undergraduate students
Full- or half-time graduate students

Not need-based
Parent/guardian of full- or half-time dependent undergraduate students
Credit check required
Full or half time graduate or professional student

Annual Loan Limit	1^st year — $3,500 2^nd year — $4,500 3^rd–5^th years — $5,500 Graduate — $8,500 Annual limits are based on a full-year program Shorter programs have lower limits	1^st year — $5,500 2^nd year — $6,500 3^rd–5^th years — $7,500 Graduate — $20,500 Independent and graduate students may be eligible for additional funds: 1st year — $9,500 2nd year — $10,500 3rd—5th year — $12,500	Cost of attendance less other financial aid received on a per-student basis

	Subsidized and Unsubsidized Stafford Loans combined can’t exceed the Stafford cumulative loan limits

Cumulative Loan Limit	Dependant Undergrad — $31,000 Independent Undergrad — $57,500 Graduate or professional — $138,500 Health Profession — $224,000		None

Interest Rates

Fixed
6% for Undergrads
6.8% for graduate and professional students
Federal government pays the interest while students are in school and during grace period

Fixed
6.8%
Interest accrues from time of disbursement
Students can defer interest payments until after graduation or dropping below half-time

Fixed
8.5%
Interest accrues from time of disbursement

Federal Origination Fee

Up to 1%

Federal Default Fee

Up to 1%

Payments

Six months after graduation, withdrawal from school, dropping below half-time, or failure to make academic progress

For parent borrowers, up to six months after student drops below half-time enrollment. Graduate and professional students qualify to defer payments while they attend school on at least a half-time basis.

Repayment

Maximum 10 years
Minimum payment $50

Maximum 10 years
Minimum payment $50

Maximum 10 years
Minimum payment $50