Repayment of the loan begins six months after the student graduates or ceases to be half time. Students with outstanding loans continue to borrow at their previous rates. Also, students must continue to borrow Stafford Loans from the same lender. Repayment of all or part of the loan may be made in advance without penalty. After graduation or ceasing to be at least a half-time student, the student borrower must make formal arrangements with the lending institution to begin repayment.
Students can receive a subsidized and an unsubsidized loan for the same enrollment period.
These amounts are the maximum yearly amounts for the FFEL Program Loans. Students, however, may not be able to borrow the maximum amounts since the amount of the loan is determined by the cost of attendance as determined by the institution minus any other financial aid. Cost of attendance includes tuition and fees, room and board, books, travel and allowance for personal expenses. The graduate debt limit includes any Stafford loans received as an undergraduate. It is strongly recommended that students apply by early spring for the following year.