To apply for Federal Student Aid Direct Loans (William D. Ford Federal Direct Loans), students are required to:
Federal Subsidized Stafford Loan - is awarded on the basis of financial need. You will not be charged any interest before you begin repayment or during authorized periods of deferment. The federal government pays the interest while you are in school. You must be enrolled in at least 6 semester hours.
Federal Unsubsidized Stafford Loan - is not awarded on the basis of need. You will be charged interest from the time that the loan is disbursed until it is paid in full. You must be enrolled in at least 6 semester hours.
Federal Stafford Annual Loan amounts*, effective July, 1 2008, are:
|Dependent Students||Independent Students|
|0 - 29 hours||$3,500||$2,000||$3,500||$6,000|
|30 hours +||$4,500||$2,000||$4,500||$6,000|
* This reflects the maximum loan amount a student may receive in a single academic year. Loan amounts may be adjusted down based on an individual's cost of attendance (COA).
First-Time Borrower? Learn about the Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or After July 1, 2013(PDF will open in a new window).
Know Before You Owe! - Have questions about student loans? Get more information from the Department of Education.
Be-On-Time Loan (BOTL) - no-interest loan made available by the state of Texas. Students who meet specified program goals may have their entire loan forgiven. Recipients are required to pay a 3% origination fee and enroll in at least 12 hours. The annual award amount is $1,890 ($945/semester). BOTL details are available online.
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's (ED's) central database for student aid.
NSLDS receives data from schools, guaranty agencies, the Direct Loan program and other Department of ED programs.
NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants, so recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. The system can help you learn about your loan status, assist with repayment methods to keep your loan out of default and keep you aware of where your loan debt is currently.
Plan ahead! What will your monthly loan payments be?
Use the Federal Student Aid Calculators to estimate your monthly loan payment.
Students go in to loan repayment six (6) months after they stop attending at least half-time. Once you go in to repayment, you will be contacted by a Federal Loan Servicer to make payment arrangements.
Updated August 22, 2013