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Loans

There are several types of loans that you can borrow from the government.

Perkins & Subsidized Loans

 These are need-based. You can apply for these by filling out the FAFSA.

Unsubsidized Loans

This is not need based but there is a max amount you can take out every year. You can apply for this by filling out the FAFSA.

  • Freshman year: $5,500 ($3,500 Max Subsidized)
  • Sophomore year: $6,500 ($4,500 Max Subsidized)
  • Junior & Senior years: $7,500 ($5,500 Max Subsidized)

PLUS Loan - for Parents

You can apply for this no earlier than 90 days prior to the start of the semester at www.studentloans.gov.

Additional Information about Loans

  • More information about federal loans, including current interest rates, can be found at www.studentaid.ed.gov/types/loans/interest-rates
  • If borrowing, you must complete a Master Promissory Note for all loans. 
  • If you're a student borrowing, you must also complete the Loan Entrance Counseling.
  • You must be enrolled at least half-time to be eligible for federal loans, and are subject to the following lifetime limits: 
    • $31,000 in total loans for dependent students, of which no more than $23,000 may be subsidized. 
    • $57,500 for independent students, of which no more than $23,000 may be subsidized. 
  • Loan funds will be disbursed to Roberts and will be applied to the student account