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| How Much
Can a Student Borrow? |
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A student loan can only cover
educational costs not met by other sources of financial aid. The
table below shows the maximum amount a student at Stark State
College can borrow for each academic year along with the aggregate
limits. Your loan eligibility is determined by the Financial Aid
Office. Factors taken into account are the cost of your attendance
for the loan period requested, the expected family contribution (EFC)
as determined by the information you provided on your Free
Application for Federal Student Aid (FAFSA) and the total of any
other financial aid awarded. Therefore, you may not be eligible for
the maximum amounts.
Conservative borrowing is strongly encouraged.
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Subsidized Stafford
Loans |
- Based on financial need
- Federal government pays the interest while you are in school
at least half time (6 credit hours)
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Unsubsidized
Stafford Loans |
- Not based on financial need
- Interest accrues on this loan while you are in school
at least half-time
- You can choose to make interest payments while you are in
school, or the interest can be added to your loan balance (this
is called capitalization)
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ANNUAL
STAFFORD LOAN LIMITS
(Maximum Combined Subsidized and Unsubsidized) |
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Freshman and students in certificate programs |
Sophomore in an Associate's Degree program |
Dependent
Undergraduate
Student |
$3,500 |
$4,500 |
Independent
Undergraduate
Student |
$7,500 |
$8,500 |
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AGGREGATE BORROWING LIMITS
Total borrowed over time while attending a two-year or
four-year college |
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Dependent Undergraduate Student |
$23,000 |
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Independent Undergraduate Student |
$46,000 (of which no more than $23,000 can be subsidized
Stafford) |
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