The Federal Stafford Loan is just a non-credit based education loan for undergraduate and graduate pupils.


The Federal Stafford Loan is just a non-credit based education loan for undergraduate and graduate pupils.

There’s two fundamental kinds of Stafford loans: subsidized and unsubsidized. Both have 6 thirty days elegance duration (a period whenever a student isn’t any longer enrolled for at half-time that is least rather than necessary to make re payments) and fixed interest levels, that are determined every year on July 1st. To see the interest that is current, please look at the Loan Comparison Chart regarding the Loan Program web site. Please see the differences when considering the Subsidized and loans that are unsubsidized. </p>

Subsidized Loans

Federal federal Government pays the attention with respect to the learning pupil although the student is within the deferment duration and elegance duration.

As soon as in payment, the learning pupil is in charge of having to pay the attention regarding the loan in addition to the key amount lent.

The student’s price of attendance must go beyond his/her Expected Family Contribution (EFC) to qualify for “need-based” aid (such as for instance funds, scholarships and subsidized loans).

The EFC is dependent on information collected through the complimentary Application for Federal scholar Aid (FAFSA). The quantity of the subsidized loan along with other “need-based” aid cannot exceed the student’s “financial need. ”

Subsidized loans can be found simply to undergraduate pupils.

Federal Direct Subsidized Loan Time Limitation

Pupils that are considered brand brand new borrowers or very first time borrowers on or after July 1, 2013, are restricted into the length of time they might be eligible for interest subsidy. As soon as these pupils have actually surpassed 150 percent associated with the posted duration of their degree that is current program they’ll be:

  • Ineligible to borrow more Federal Direct Subsidized Loans
  • Entitled to borrow more Federal Direct Unsubsidized Loans so long as the Aggregate that is total Limit perhaps maybe not been met
  • In charge of any interest that accrues in the Federal Direct Subsidized loans after surpassing the 150% limitation.

New borrowers are students who possess no outstanding federal education loan principal balances during the time they submit an application for a brand new federal loan on or after July 1, 2013.

For further details, please click the link.

Unsubsidized Loans

Government doesn’t spend the attention with respect to the pupil.

Rather, the debtor is in charge of all of the interest that accrues and capitalizes from the time the mortgage disburses.

Separate pupils are entitled to greater amounts that are unsubsidized reliant pupils. See our web page on Borrowing Limits.

Though it really is non-need based help, the total amount of the unsubsidized loan along with other aid cannot exceed the total estimated price of attendance

Stafford Loan Eligibility Criteria:

Pupils Should:

  • File the FAFSA.
  • Be a U.S. Citizen or qualified non-citizen.
  • Have school that is high or equivalent.
  • Be completely admitted and meet UCF Admission needs.
  • Be categorized as level looking for at UCF in a program that is eligible.
  • Enroll for at half-time that is least at UCF in UCF classes at time of disbursement. To learn more regarding half-time enrollment be sure to view our Program Eligibility Chart.
  • Preserve UCF’s Standards for Satisfactory Academic Progress (SAP).
  • Complete all required To Do List Items.
  • Complete verification (if chosen).
  • If in receipt of a Federal Stafford Direct Loan in this educational 12 months at another institution, make sure the rest of this loan is canceled before you apply for a financial loan at UCF

Pupil Cannot:

  • Standard on any academic loan or owe repayment for a federal grant as of this or other organization.
  • Borrow more than federal loan restrictions

Borrowing Limitations

The total blended amounts students may borrow in subsidized and unsubsidized Stafford loans may well not meet or exceed the yearly loan restrictions or aggregate restrictions, which are specified in federal laws. Please view our Borrowing Limits web site for lots more information.

Simple tips to submit an application for the Federal Stafford Loan

File the Free Application for Federal scholar help (FAFSA) for the aid year that is current. ( We suggest which you file because of the priority due date of 1st. December)

After UCF gets the total outcomes of the FAFSA through the Federal Processor, we are going to immediately provide the optimum Federal Direct Stafford Subsidized and Unsubsidized Loan centered on your eligibility.

Accept, reduce, or decrease your provided loan(s) for every single term individually in the myUCF View Financial help display by pressing the “Accept/Decline prizes” button and showing your selection.

Fall loans must certanly be accepted by 15th, to avoid cancellation of the offer september.

Spring loans must certanly be accepted by March 22nd, in order to prevent termination associated with the offer.

Loan Adjustment and Reinstatement

The online Loan Adjustment Request type is present through the kinds web web page at the beginning of each semester up to the adjustment/reinstatement due date. You may submit an online Loan Adjustment Request Form by the following deadlines if you would like your loan eligibility reviewed for either an increase or reinstatement:

Year 2019-2020

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Loan Period Adjustment / Reinstatement Deadline Award fall 2018 11/15/19 2019-2020
Spring 2019 4/03/20 2019-2020 year

Complete the on line Master Promissory Note should this be your time that is first borrowing Federal Direct loan.

Finish the online Entrance Counseling should this be your first time borrowing A direct loan at any college.

Transfer Students

If perhaps you were granted a Federal Stafford Direct Loan in this year that is academic another institution, ensure that the remaining of the loan is canceled at your past college before you apply for a loan at UCF.

Getting educational funding disbursements from another organization inside the exact same educational 12 months might have a visible impact on the staying help eligibility at UCF.

Disbursement of Loan

For information regarding loan disbursements, please go to our Disbursement of Financial help website.

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