Stafford Student Loan

The Stafford Student Loan is one of the most common loans taken out by students in order to cover education expenses. There are actually two versions of the Stafford loan; the subsidized and unsubsidized versions. When applying for the Stafford loan, it is important to keep the following criteria in mind in regards to eligibility:

Subsidized Stafford Loan

• Need based
• The government will pay the interest on the loan while you are in school and during the grace period
• Must be a U.S. citizen or permanent resident
• Must be a full or half-time undergraduate or graduate student
• Since the loan is need based, no credit check is required
• Up to 10 years allowed to repay the loan

Unsubsidized Stafford Loan

• Non-need based
• The borrower of the loan is responsible for all interest as soon as the loan is taken out; including throughout school.
• Must be a U.S. citizen or permanent resident
• Must be a full or half-time undergraduate or graduate student
• No credit check is required

The loan limits of both types of Stafford student loans vary; depending on two major factors; your level (year) in school and whether you are determined to be an independent or depend student.

With the Subsidized Stafford loan, loan limits are determined by your year in school. In year 1 you are allowed to borrow up to $2625; Year 2: $3500; Years 3 and 4: $5500 per year. Graduates students may borrow up to $8500 per year; regardless of their level in school.

The Unsubsidized Stafford loan allow for the following loan limits:

Year 1:                         $2625 for dependent students

                                    $6625 for independent students

Year 2:                         $3500 for dependent students

                                    $7500 for independent students

Years 3 and 4:              $5,500 for dependent students

                                    $10,500 for independent students

Graduate student: $18,500 per year **

**The amount of any subsidized Stafford loan awarded to the student will be subtracted from this amount.

Finally, there are regulations regarding the cumulative loan limits for both types of the Stafford studentloan in regards to undergraduate and graduate students. Dependent undergraduate students may borrow up to $23,000 between both types of Stafford loans. Independent undergraduate students may borrow up to $46,000; of which $23,000 may be made up with the subsidized Stafford loan. Graduate students may borrow up to $138,500; of which up to $65,000 may be made up in the subsidized Stafford loan. 

To see if your eligible to receive free scholarship monies first visit and .  It's a free service that everyone should try before you fill out a college loan application.  You may not need a student loan if you secure free monies for college.

1. Stafford student loan repayment website
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