Federal Loan Programs/Direct Subsidized Federal Stafford Loan
The federal government guarantees loans from $3,500 to $5,500 for eligible undergraduates. These loans are made by the Department of Education and interest is subsidized. Interest rates for federally guaranteed student loans are set annually. Please consult the Department of Education website for the current interest rate: https://studentaid.ed.gov/types/loans/interest-rates.
Students must file the FAFSA to determine eligibility for a Stafford Loan. Subsidized loan eligibility is limited for first-time borrowers to 150 percent of the length of the borrower’s educational program.