Stafford Student Loan Unsubsidized

• A low-interest loan arranged by a lender such as Yale, a bank, a credit union, or a savings and loan association.
• Interest will accrue on this loan while you are in school. The interest will be capitalized when you are no longer a fulltime student or you have graduated.
• This is not a need-based program, although you cannot borrow more than the difference between the cost of attendance and all forms of financial aid, including any Subsidized Stafford Loans.
• Depending on your need, you may borrow up to $20,500 a year, less any Subsidized Stafford Loans for which you may be eligible (medical students may borrow $40,500).
• The total amount Federal Stafford you may borrow as a graduate or professional student is $138,500 (medical students may borrow up to $189,125), including the remaining balance of any Federal Stafford Loan borrowed at the graduate and/or undergraduate level.
• Loan applications are available at most commercial and savings banks, savings and loan associations, and credit unions. If you have any outstanding Federal Stafford, it helps to return to the same lender.
• Applications should be submitted to the Financial Aid Office approximately two months prior to the date funds are needed.

Terms and Conditions

• Interest Rate is 6.8%.
• You will be responsible for all interest accrued on this loan from the date of disbursement. Your repayment will begin six months after graduation or withdrawal from school, at which time you must begin to repay the loan.
• A Federal loan origination fee of 1 percent and a guaranty default reduction fee of up to 1 percent will be deducted from the amount requested.
• You must attend entrance and exit interviews in the Student Loan Office and complete the necessary forms, including promissory note, before the loan will be disbursed.

Stafforad Student Loan Lenders

• Access
• CitiBank
• Chase
• MedAchiever/Key Bank
• Sallie Mae Medical School Loans (Medicine only)
• Sallie Mae Loans