Stafford Loans
General Information
Virginia Tech participates in the William D. Ford Federal Direct Loan Program (usually referred to as the Direct Loan Program). This program allows students to borrow their Federal Stafford Loans directly from the federal government, rather than through lending institutions. Additional information on the Direct Loan Program can be found in the Direct Loan Basics for Students Brochure. Through the Direct Loan Program, Stafford Loans are available to undergraduate, graduate and professional students and are designed to be low-interest loans to provide students with additional funds for college.
Federal Direct Subsidized Loans
These loans are based on financial need determined by the Expected Family Contribution on the FAFSA. The federal government pays the interest during in-school, grace, and deferment periods.
Federal Direct Unsubsidized Loans
These loans are not based on financial need, therefore the federal government does not pay the interest during in-school, grace, and deferment periods. Students may choose to defer interest payments until repayment begins; however, the student is responsible for all interest that has accrued, which will automatically capitalize to the loan principal.
Eligibility
- Undergraduate or graduate degree seeking student
- Enrolled at least half time
- Maintain Reasonable Academic Progress
Application
- Complete the FAFSA (with signatures) by March 11 deadline
- Complete the online Entrance Counseling Session
- Complete the online Master Promissory Note (MPN). (See our page on the Master Promissory Note, for more information.)
Repayment
- Starts 6 months after student graduates or ceases to be enrolled at least half time
- For the Direct Loan Program, contact the Direct Loan Servicing Center with questions regarding repayment of the Federal Stafford Loan.
- For more specifics on repaying your Federal Stafford Loan, please review the Direct Loan Exit Counseling Guide.
Federal Stafford Loan Limits: At-A-Glance
Dependent Undergraduate Students
Subsidized and/or Unsubsidized Loan |
Additional Unsubsidized Eligibility |
Total per Academic Year |
|
| Freshman 29 credits and below |
$3,500 |
$2,000 |
$5,500 |
| Sophomore 30 to 59 credits |
$4,500 |
$2,000 |
$6,500 |
| Junior 60 to 89 credits |
$5,500 |
$2,000 |
$7,500 |
| Senior 90 or greater credits |
$5,500 |
$2,000 |
$7,500 |
A dependent student may qualify for additional unsubsidized loan money if a Parent PLUS Loan is denied. |
|||
Independent Undergraduate Students
Subsidized and/or Unsubsidized Loan |
Additional Unsubsidized Eligibility |
Total per Academic Year |
|
| Freshman 29 credits and below |
$3,500 |
$6,000 |
$9,500 |
| Sophomore 30 to 59 credits |
$4,500 |
$6,000 |
$10,500 |
| Junior 60 to 89 credits |
$5,500 |
$7,000 |
$12,500 |
| Senior 90 or greater credits |
$5,500 |
$7,000 |
$12,500 |
Graduate and Veterinary Medicine Students
Subsidized and/or Unsubsidized Loan |
Additional Unsubsidized Eligibility |
Total per Academic Year |
|
| Graduate |
$8,500 |
$12,000 |
$20,500 |
| Veterinary Medicine |
$8,500 |
$32,000 |
$40,500 |
Aggregate Loan Limits:
This is the maximum total borrowing allowed for all Stafford Loans.
| Aggregate Loan Amounts | |
| Dependent Undergraduate | $31,000 (no more than $23,000 may be subsidized) |
| Independent Undergraduate | $57,500 (no more than $23,000 may be subsidized) |
| Graduate | $138,000 (no more than $65,000 may be subsidized) |
| Veterinary Medicine | $189,125 (no more than $65,000 may be subsidized) |
Loan Programs
Federal Loans
- Perkins Loans
- Stafford Loans
- Parent PLUS Loans
- Grad PLUS Loans
Other Loan Programs
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