A copy of the applicant's most recent federal income tax return is also required. These guidelines will provide a student with a modest, but adequate, standard of living. Typical financial aid packages consist of federal and private loans, grants from institutional funds, and work-study allocations. These loans are administered by a state guarantee agency. Repayment of interest and principal is usually deferred until after the student is no longer registered at least half-time.
Applications are available from participating lenders.
Unsubsidized Stafford Loan Program is available to all students enrolled at least half time, regardless of income. Students are charged interest immediately upon disbursement of the loan until it is paid in full. The applicable rate of interest is variable, adjusted annually on July 1, not to exceed 8.25 percent. Students whose need is less than the loan limits for the federal Stafford Loan will be able to borrow up to those loan limits under the Unsubsidized Stafford Loan Program. Perkins Loan Program, by federal regulations, mandates that priority for Perkins Loans are assigned to students who show exceptional need.