Unsubsidized Application Procedures Application procedures are the same as for subsidized federal Stafford loan. Selection of Recipients and Allocation of Awards Same as subsidized federal Stafford loan, except no demonstration of financial need is required. Available to students who may not qualify for subsidized federal Stafford loans or for only partial subsidized Stafford loans.
Interest rate is the same as subsidized loan.
Loan Schedule Same as subsidized federal Stafford loan. However, if the student is receiving the subsidized federal Stafford loan, the combination of the two loan programs cannot exceed the annual loan limit. Responsibilities of Borrowers Same as subsidized federal Stafford loan. However, the borrower is responsible for interest that accrues while he or she is in school. Interest may be capitalized.