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The unsubsidized Stafford Loan is a variable rate loan made to students
by a bank, credit union, or savings and loan association. Assistance received
under this program must be repaid. Students are eligible for this program
with no demonstrated need or marginal need to borrow.
Students with a demonstrated financial need, must be enrolled at least
half time and may borrow up to $2,625 while earning up to 30 credits:
$3,500 while earning 31 to 60 credits, and up to $5,500 per year while
earning 61 or more credits—to an aggregate total of $23,000 as undergraduate
students.
Repayment begins six months after students graduate, leave college, or
attend less than half time. The program is similar to the subsidized Stafford
Loan except that the interest accrues while the student is attending school.
Students, if they choose may, pay the interest while they are in school.
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