How do I apply for a loan?

• Complete and submit the FAFSA form
• S&T determines how much student aid you are eligible to receive

Am I eligible for a Federal Ford Direct Subsidized Loan? 

• Undergraduate students with financial need (as determined by the FAFSA)
• You must be enrolled at least half-time at S&T

What are the current interest rates?

• Fixed 6.53% for the 2024-2025 year starting on July 1, 2024
• No interest accrues during school

How much can I borrow? 

• The annual loan limit is $3,500 - $5,500
• The aggregate loan limit is $23,000
• All federal loans have origination fees which are taken out of the loan when it disburses

When do I have to pay back my loan?

• The federal government pays the interest while you are enrolled in school
• Repayment begins 6 months following termination of at least half-time enrollment 

How do I apply for a loan?

• Complete and submit the FAFSA form
• S&T determines how much student aid you are eligible to receive

Am I eligible for a Federal Ford Direct Unsubsidized Loan?

• Undergraduate and graduate students (there is no requirement to demonstrate financial need)

What are the current interest rates?

• Fixed 6.53% for undergraduates for the 2024-2025 year starting July 1, 2024
• Fixed 8.08% for graduates for the 2024-2025 year starting July 1, 2024
• Interest accrues but does not have to be repaid if enrolled at least half-time 

How much can I borrow? 

• The annual loan limit is $2,000 - $12,500 for undergraduates and $2,000 - $20,500 for graduate students
• The dependent undergraduate aggregate limit, including subsidized loans, is $31,000
• The independent undergraduate aggregate limit, including subsidized loans, is $57,500
• The graduate aggregate limit, including all federal loans received for undergraduate study, is $138,500
• All federal loans have origination fees which are taken out of the loan when it disburses.

When do I have to pay back my loan?

• You are responsible for paying the interest on a Direct Unsubsidized Loan during enrollment 
• Repayment begins 6 months following termination of at least half-time enrollment

How do I apply for a loan?

• Complete an application and basic credit check at studentaid.gov
• Complete a Master Promissory Note on studentaid.gov
• S&T determines how much student aid you are eligible to receive

Am I eligible for a Parent PLUS Loan? 

• Available to parents of undergraduate and graduate students
• Must pass a basic credit check
• Your child must be enrolled at least half-time at S&T
• There is no requirement to demonstrate financial need

What are the current interest rates?

• Fixed 9.08% for the 2024-2025 year starting July 1, 2024

How much can I borrow? 

• Cost of education (determined by S&T) minus other financial assistance
• All federal loans have origination fees which are taken out of the loan when it disburses

When do I have to pay back my loan?

• If you do not request a deferment, you will be expected to begin making payments after the loan is fully disbursed (paid out).

For more information on Parent Plus Loans, please visit Federal Student Aid.

How do I apply for a loan?

• Complete and submit the FAFSA form
• Complete an application and basic credit check at studentaid.gov
  
• Complete a Master Promissory Note on studentaid.gov
• S&T determines how much student aid you are eligible to receive

Am I eligible for a Graduate PLUS Loan?

• Graduate students (there is no requirement to demonstrate financial need)
• Must be enrolled at least half-time

What are the current interest rates?

• Fixed 9.08% for the 2024-2025 year starting July 1, 2024

How much can I borrow? 

• Cost of education (determined by S&T) minus other financial assistance
• All federal loans have origination fees which are taken out of the loan when it disburses

When do I have to pay back my loan?

• You don't have to start making payments until six months after you graduate, leave school, or drop below half-time enrollment. 

For more information on Graduate PLUS Loans, please visit Federal Student Aid.