Loans

There are several types of loans that you can borrow from the government.

Subsidized Loans

 These are need-based. You can apply for these by filling out the FAFSA.

Unsubsidized Loans

This is not need-based, but there is a max amount you can take out every year. You can apply for this by filling out the FAFSA.

• Freshman year: $5,500 ($3,500 Max Subsidized)
• Sophomore year: $6,500 ($4,500 Max Subsidized)
• Junior & Senior years: $7,500 ($5,500 Max Subsidized)

PLUS Loan - for Parents

You can apply for this no earlier than 90 days prior to the start of the semester at www.studentloans.gov.

Additional Information about Loans

• More information about federal loans, including current interest rates, can be found at https://studentaid.gov/understand-aid/types/loans/interest-rates
• If borrowing, you must complete a Master Promissory Note for all loans. 
• If you're a student borrowing, you must also complete the Loan Entrance Counseling.
• You must be enrolled at least half-time to be eligible for federal loans, and are subject to the following lifetime limits: 
  • $31,000 in total loans for dependent students, of which no more than $23,000 may be subsidized. 
  • $57,500 for independent students, of which no more than $23,000 may be subsidized. 
• Loan funds will be disbursed to Roberts and will be applied to the student account