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Financial Aid Loan Information

Federal Direct Stafford Loan Annual Loan Limits for Undergraduate Students - Please note that for students enrolled prior to the Fall 2013 semester, year in school is determined by studio level. For students beginning in the Fall of 2013, year in school is determined by number of credits earned. Students must be enrolled in a minimum of 6 academic credits to be eligible for federal loans.

Dependent Students:

  • Studio Level A/First Year: $5,500 - No more than $3,500 of this amount may be in Subsidized loans.
  • Studio Level B/Second Year: $6,500- No more than $4,500 of this amount may be in Subsidized loans. 
  • Segment II and above/Third year and above: $7,500 - No more than $5,500 of this amount may be in Subsidized loans.

Independent Students:

  • Studio Level A/First Year: $9,500 - No more than $3,500 of this amount may be in Subsidized loans.
  • Studio Level B/Second Year: $10,500 - No more than $4,500 of this amount may be in Subsidized loans.
  • Segment II and above/Third year and above: $12,500 - No more than $5,500 of this amount may be in Subsidized loans.

Federal Direct Stafford Annual Loan Limits for Graduate Students - Students must be enrolled in a minimum of 4.5 academic credits to be eligible for federal loans.

  • $20,500Unsubsidized 
  • Graduate students may also be eligible for a Federal Direct Graduate PLUS loan

Aggregate Federal Stafford Loan limits

  • Dependent undergraduate students can borrow a maximum of $31,000, no more than $23,000 can be subsidized.
  • Independent undergraduate students can borrow a maximum of $57,500 in Federal Stafford Loans, and up to $23,000 maximum can be subsidized.
  • Graduate students can borrow up to a maximum of $138,500 in Federal Stafford Loans, and up to a maximum of $65,500 can be Subsidized.

Once the above Federal Direct Stafford Loan limits are reached, students can no longer borrow Federal Direct Stafford Loans. Students should exercise caution regarding borrowing excessive amounts.

Interest rates and loan fees are determined annually. Please visit the Department of Education's site for the most accurate information.

 

Consolidation 

Many borrowers choose to consolidate their federal student loans. Students can consolidate their federal loans during the grace or repayment period. For additional information read the information provided below to ensure you understand how the timing of your application will impact the terms and benefits of your new loan.

Direct Loan Consolidation 
This US Department of Education web site provides information to borrowers, schools, and loan holders. Students may consolidate their Direct Loans with any prior Federal Family Education Loans (FFELP).
Consolidation Calculator
This Loan Consolidation Calculator compares the monthly payments, interest rates and total cost of your current loans with the monthly payment, interest rate and total cost of a consolidation loan. It includes calculations of standard, extended and graduated repayment.