Admissions

Federal Loans

Many students find they must supplement the resources they have to meet the expenses associated with a quality college education through taking advantage of low-interest educational loans.  Students may borrow funds under the Federal Direct Stafford Loan Program even if they have not established a credit record.  Repayment on the Federal Stafford Loan is deferred as long as the student is enrolled in college at least half-time. The FAFSA (Free Application for Federal Student Aid) is required for all students wishing to apply for a federal loan.

Federal Direct Stafford (Student) Loan

The Federal Direct Stafford Loan enables students who are enrolled at least half-time and degree seeking to borrow low-interest loans.  Payment on these loans begins six months after graduation or after a student is no longer enrolled at least half-time.

Federal Stafford Loan Limits

Dependent Student
Freshman (0-30 credit hours earned) Up to $5,500 a year ($3,500 subsidized)
Sophomore (31-60 credit hours earned) Up to $6,500 a year ($4,500 subsidized)
Junior (61-90 credit hours earned) Up to $7,500 a year ($5,500 subsidized)
Senior (at least 91 credit hours earned) Up to $7,500 a year ($5,500 subsidized)

 

Aggregate Lifetime Limit

$31,000 as a dependent undergraduate student (only $23,000 of this amount may be in subsidized loans)

* Loan limits cannot exceed Cost of Attendance (COA) as calculated by CSU.

Independent Student

Freshman (0-30 credit hours earned) Up to $9,500 a year ($3,500 subsidized)
Sophomore (31-60 credit hours earned) Up to $10,500 a year ($4,500 subsidized)
Junior (61-90 credit hours earned) Up to $12,500 a year ($5,500 subsidized)
Senior (at least 91 credit hours earned) Up to $12,500 a year ($5,500 subsidized)
Graduate Student Up to $20,500 a year not eligible for subsidized

Aggregate Lifetime Limit

$57,500 as an independent undergraduate student (only $23,000 of this amount may be in subsidized loans)

$138,500 for graduate students (includes loans for undergraduate students)

* Loan limits cannot exceed Cost of Attendance (COA) as calculated by CSU.

There are two types of Federal Direct Stafford Loans

Federal Subsidized Stafford Loan

The Federal Subsidized Stafford loan is a loan for students with financial need, as determined by the results of the FAFSA, student status and other financial aid (such as grants, scholarships) that you receive.  The loan is in the student's name and has a fixed interest rate of 4.45 percent for loans disbursed after July 1, 2017 (rates will be different for loans received prior to this date). The interest rate does not accrue while the student is enrolled at least half-time (undergraduate student = 6 credit hours; graduate student= 3 credit hours). An origination fee of 1.066 percent will be deducted by the U.S. Department of Education prior to disbursement of the Subsidized Stafford Loan if disbursed after October 1, 2017. There is a six-month grace period after the student graduates or ceases to be enrolled at least half-time before repayment on the loan begins. Fees are subject to change per government regulations.

Federal Unsubsidized Stafford Loan - Undergraduate

The Federal Unsubsidized Stafford loan is a loan in the student's name and has a fixed interest rate of 4.45 percent for loans disbursed after July 1, 2017 (rates will be different for loans received prior to this date). The interest rate does accrue while the student is enrolled. The student must be enrolled at least half-time (undergraduate student = 6 credit hours; graduate student = 3 credit hours). An origination fee of 1.066 percent will be deducted by the U.S. Department of Education prior to disbursement of the Unsubsidized Stafford Loan if disbursed after October 1, 2017. There is a six-month grace period after the student graduates or ceases to be enrolled at least half-time before repayment on the loan begins. Fees are subject to change per government regulations.

Students must file the FAFSA (Free Application for Federal Student Aid) each academic year to be eligible to apply for the Stafford Loan. Master Promissory Note (MPN) and Entrance Counseling are required. These documents can be completed by linking from the highlighted documents above or visiting www.studentloans.gov.

The promissory note is a legal, binding document whereby you agree to repay the loan.

Changing Loan Amounts

You are encouraged to only borrow the funds needed to pursue your education.  If the loan approval is more than you desire, you may reduce the amount by filling out the Award Update Form located under the documents tab in your Financial Aid LIVE account.   Should you have further questions, you may contact the Financial Aid Office at 843-863-7050 or 1-800-947-7474, or email financialaid@csuniv.edu.

 

Federal Direct Unsubsidized Stafford Loan - Graduate

The Federal Direct Unsubsidized Stafford Loan for graduate students is a loan in the student's name and has a fixed interest rate of 6.00 percent for loans disbursed after July 1, 2017 (rates will be different for loans received prior to this date). The interest rate does accrue while the student is enrolled. The student must be enrolled at least half-time (graduate student = 3 credit hours). An origination fee of 1.066 percent will be deducted by the U.S. Department of Education prior to the disbursement of the Unsubsidized Stafford Graduate Loan if disbursed after October 1, 2017. There is a six-month grace period after the student graduates or ceases to be enrolled at least half-time before repayment on the loan begins. Fees are subject to change per government regulations. 

Federal Direct PLUS Loan (Parent Loan for Undergraduate Students)

The Federal Direct PLUS Loan is a credit-based loan in the parent's name. The PLUS Loan has a fixed interest rate of 7.00 percent for loans disbursed after July 1, 2017 (rates will be different for loans received prior to this date). Interest begins to accumulate when the first disbursements are made. The amount of repayment depends on the total borrowed and the amount of the loan is subject to loan approval. There are no pre-payment penalties. Credit approval is valid for 90 days. Your credit is evaluated every time you request a new loan. There is an origination fee of 4.264 percent that will be deducted by the U.S. Department of Education prior to the disbursement of the Federal Direct PLUS Loan if disbursed after October 1, 2017. Fees are subject to change per government reguations. There are flexible repayment options available by contacting the Direct Loan Servicing Center at 1-800-848-0979.

Students must file the FAFSA (Free Application for Federal Student Aid) each academic year to be eligible for the parent to apply for the Federal PLUS (Parent) Loan.  Master Promissory Note (MPN) required. The MPN can be completed by linking from the highlighted document above or by going to the following website: www.studentloans.gov. The promissory note is a legal, binding document whereby you agree to repay the loan.

Federal Direct PLUS Loan (Graduate Students Only)

The Federal Direct Graduate PLUS Loan is a loan in the student's name. Students must be credit-worthy in order to receive this loan. Students must be enrolled at least half-time (3 credit hours). The interest rate is fixed at 7.00 percent for loans disbursed after July 1, 2017 (rates will be different for loans received prior to this date). There is a 4.264 percent origination fee that will be deducted by the U.S. Department of Education prior to the disbursement of the Federal Direct Graduate PLUS Loan if disbursed after October 1, 2017. Fees are subject to change per government regulations. Repayment begins 60 days after the full disbursment of the loan. 

Changing Loan Amounts

You are encouraged to borrow only the funds needed to pursue your education.  If the loan approval is more than you desire, you may reduce the amount by filling out the Award Update Form located under the documents tab in your Financial Aid LIVE account.   Should you have further questions, you may contact the Financial Aid Office at 843-863-7050 or 1-800-947-7474 or email financialaid@csuniv.edu.

Students may view their total amount of federal loans borrowed at: http://www.nslds.ed.gov/nslds_SA/

PRIVATE LOANS

More Information

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