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


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

There are 2 basic forms of Stafford loans: unsubsidized and subsidized. Both have a 6 month grace duration (a period whenever a pupil isn’t any longer enrolled for at minimum half-time and never needed to make re re payments) and fixed interest levels, that are determined every year on July first. To look at the present rate of interest, please go to the Loan Comparison Chart in the Loan Program web site. Please see the differences when considering the Subsidized and Unsubsidized loans below.

Subsidized Loans

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

As soon as in payment, the learning student accounts for spending the attention from the loan as well as 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 gathered through the Free Application for Federal scholar Aid (FAFSA). The total amount of the subsidized loan coupled with other “need-based” aid cannot exceed the student’s “financial need. ”

Subsidized loans can be obtained 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 within the timeframe they might be eligible for a interest subsidy. When these pupils have actually exceeded 150 percent for the posted amount of their present level system, they’ll be:

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

New borrowers are students that have no outstanding student that is federal principal balances at the time they submit an application for a fresh federal loan on or after July 1, 2013.

For further details, here please click.

Unsubsidized Loans

Government does not spend the attention on behalf of the pupil.

Alternatively, the debtor is in charge of most of the interest that accrues and capitalizes through the time the mortgage disburses.

Separate pupils are qualified to receive greater unsubsidized quantities than reliant pupils. See our web page on Borrowing Limits.

The amount of the unsubsidized loan combined with other aid cannot exceed the total estimated cost of attendance though it is non-need based aid

Stafford Loan Eligibility Criteria:

Pupils Must:

  • 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 demands.
  • 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 period of disbursement. To learn more regarding half-time enrollment be sure to view our Program Eligibility Chart.
  • Preserve UCF’s Guidelines for Satisfactory Academic Progress (SAP).
  • Complete all required To Do List Items.
  • Complete verification (if chosen).
  • If in receipt of the Federal Stafford Direct Loan in this year that is academic another institution, be sure that the remaining of the loan is canceled before using for a loan at UCF

Pupil Cannot:

  • Standard on any loan that is educational owe repayment on a federal grant only at that or just about any other organization.
  • Borrow more than federal loan restrictions

Borrowing Limitations

The total blended quantities students may borrow in subsidized and unsubsidized Stafford loans may well not surpass the loan that is annual or aggregate restrictions, that are specified in federal laws. Please view our Borrowing Limits web site for lots more information.

How exactly to make an application for the Federal Stafford Loan

File the complimentary Application for Federal scholar help (FAFSA) when it comes to aid year that is current. ( We suggest you file by the concern due date of 1st. December)

After UCF gets the total link between the FAFSA through the Federal Processor, we shall immediately provide the optimum Federal Direct Stafford Subsidized and Unsubsidized Loan according to your eligibility.

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

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

Spring loans must certanly be accepted by March 22nd, to prevent cancellation regarding the offer.

Loan Adjustment and Reinstatement

The online Loan Adjustment Request kind can be obtained through the kinds web web page in the beginning of each semester up to the adjustment/reinstatement due date. If you want your loan eligibility evaluated for either a growth or reinstatement, you may possibly submit an on the web Loan Adjustment Request Form by the after deadlines:

Year 2019-2020

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

Finish the on line Master Promissory Note should this be your very first time borrowing a Federal Direct loan.

Finish the on line Entrance Counseling should this be very first time borrowing a loan that is direct any college.

Transfer Students

If perhaps you were granted a Federal Stafford Direct Loan in this scholastic 12 months at another institution, ensure that the remaining of the loan is canceled at your past college before using for a loan at UCF.

Getting educational funding disbursements from another organization within the exact same scholastic 12 months might have a direct impact in your staying help eligibility at UCF.

Disbursement of Loan

For information on loan disbursements, please check out our Disbursement of Financial help website.