These are guaranteed loans under the Federal Family Education Loan Program that are available from commercial lending institutions, such as banks and credit unions, to students enrolled at least half-time. Eligibility is based on demonstrated financial need. These fees are deducted from each disbursement. You enter repayment, and pay principal and interest 6 months after you cease to be enrolled at least half-time. These are guaranteed loans under the Federal Family Education Program for students who do not qualify in whole or in part, for subsidized Federal Stafford loans.
Borrowers can receive subsidized and unsubsidized loans for the same loan period.
Refer to the subsidized Federal Stafford Loan limits. If you borrow under both the subsidized and unsubsidized programs, the combined total cannot exceed the Federal Stafford Loan annual limits. Unlike the subsidized Federal Stafford Loan, the federal government does not pay interest on your behalf. You must pay or capitalize the interest that accrues on your unsubsidized loan during the time you are enrolled in school, during your grace period, and during any period of deferment or repayment. Capitalize means that accrued interest will be added to the principal balance of your loan.