The Federal Direct Stafford Loan program is available to all students who are eligible to file a FAFSA. If financial need is demonstrated, the government will pay the interest on a student’s subsidized loan while the student is enrolled at least part-time. Students who do not demonstrate financial need will be responsible for interest from the day the unsubsidized loan is disbursed.

Both the subsidized and unsubsidized loans are eligible for payment deferment while the student is enrolled at least part-time. Students borrowing Federal Direct Stafford Loans have the same terms and conditions and interest rates as loans borrowed under the FFEL Program and will be offered loan fee rebates, more repayment plan choices and additional loan forgiveness options. For complete information on Federal Stafford Loans, including origination fees, visit studentaid.ed.gov

Maximum Federal Stafford Loan amounts

	Federal Stafford Loan	Additional Unsubsidized Loans for Independent Students
Freshmen 0-29 hours	$3,500 + $2,000 Unsubsidized	$4,000
Sophomore 30-59 hours	$4,500 + $2,000 Unsubsidized	$4,000
Junior 60-89 hours	$5,500 + $2,000 Unsubsidized	$5,000
Senior 90+ hours	$5,500 + $2,000 Unsubsidized	$5,000
Graduate/ Professional Students	-	$20,500 (all are eligible)

Interest rates for Federal Stafford loans first disbursed between July 1, 2021 and June 30, 2022

• Undergraduate Subsidized = 3.73% (0% while enrolled at least part-time)
• Undergraduate Unsubsidized = 3.73%
• Parent Plus 6.28%
• Graduate/Law/SSOM unsubisidized=5.28%
• Graduate PLUS= 6.28%

NOTE: Due to COVID, federal loans will not accrue interest and borrowers in repayment will not be required to make payments through September 30, 2021.

Once a financial aid award is available, students can view loan amounts offered and scheduled disbursement dates by clicking on the Financial Aid tile on the Student Homepage of LOCUS. Once all requirements have been met and the loans disburse, the funds will apply toward applicable charges on the student account. Any excess funds will be refunded to the student by The Office of the Bursar. This typically occurs 3-5 business days after the excess credit is created.

To reduce of cancel a loan after the funds disburse, the student must submit the Financial Aid Award Adjustment Request form within 30 days from the time the loan disburses. Similarly, a parent must submit the Parent PLUS Adjustment Request form within 14 days from the time of disbursement. All loan forms can be found here.

Lifetime aggregate limits

	Dependent Undergraduate	Independent Undergraduate	Graduate/ Professional
Subsidized Federal Stafford Loan	$23,000	$23,000	$65,500
Total Federal Stafford Loan	$31,000	$57,500	$138,500

For additional information and requirements, see our Loan Specifics page.

For more information about your loan options, please contact the Financial Aid Office at 773.508.7704 or lufinaid@luc.edu.