Unsubsidized Loans:
An Unsubsidized Federal Stafford Loan (UFSL) is not awarded on the basis of need. You'll be charged interest from the time the loan is disbursed until it's paid in full. If you allow the interest to accrue (accumulate) while you're in school, or during other periods of nonpayment, it will capitalized. This means the interest will be added to the principal amount of your loan, and additional interest will be based on that higher amount. For 2008-2009 academic year, interest on UFSL will be 6.8%.
New Amounts for Additional Unsubsidized Federal Stafford Loans*
Additional Unsubsidized Federal Stafford Loan (UFSL) amounts have gone up for 2008-2009. Independent students may now be eligible to receive up to $6000 of additional UFSL funds for the academic year. Dependent students may now be eligible for up to $2000 additional UFSL funds. If you have not been awarded additional UFSL funds and you would like to requested them, please complete a revision from online or in our office and submit it to us.
Awarded both Subsidized and Unsubsidized Federal Stafford Loans?
For students awarded both a Subsidized (SFSL) and Unsubsidized Federal Stafford Loan (UFSL) before completing a new Master Promissory Note for the 2008-2009 school year, you will be required to complete two (2) new Master Promissory Notes (MPN).
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