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    Federal Direct Stafford Loans

    Subsidized Stafford Loans are need-based, federally subsidized, low-interest loans which have repayment deferred until after you graduate, withdraw, or enroll less than half time. Interest is paid by the federal government until the end of the six months grace period after you drop to less than half-time enrollment. For new loans made to undergraduate borrowers this program has a fixed interest rate of 6%. For graduate borrowers this program has a fixed interest rate of 6.8%. All borrowers are charged a 2% origination fee. For more information go to www.dl.ed.gov. For information on deferment and repayment, see Debt Management & Student Loans.

    If eligible, students may borrow the following subsidized Stafford amounts: first-year students may borrow up to $3,500 per year, second-year students up to $4,500, and third- to fifth-year students up to $5,500. The cumulative total undergraduate students may borrow is $23,000. Graduate students may borrow $8,500 a year up to a $65,500 cumulative total, minus what they borrowed as undergraduates.

    All Stafford Loan Borrowers

    All Stafford Loan borrowers MUST CONFIRM that they will accept loans awarded to them before their funds can be disbursed to them.

    Because borrowing is a serious financial obligation, UF's Student Financial Affairs must be sure you want to accept loans awarded to you. The Direct Loan Confirmation site is available through ISIS.

    Please go to the site to complete the confirmation requirement.

    To be eligible, you must:

    1. be a U.S. citizen, national, or permanent resident;
    2. be enrolled at least half-time;
    3. show financial need on your FAFSA or Renewal FAFSA need analysis report;
    4. not have defaulted on or owe a refund to any previous aid program;
    5. maintain satisfactory academic progress; and
    6. postbaccalaureate students must petition for eligibility.

    To apply:

    1. See" How to Apply for Aid".
    2. First-Time Borrower Entrance Counseling: first-time Federal Direct Loan borrowers must complete Entrance Counseling before their loan funds can be disbursed to them. Complete entrance counseling using ISIS at www.isis.ufl.edu. Under "Financial Services," select "Entrance Counseling, Direct Loan." For more information, call UFS at (352) 392-0737, or go to their Web site.
    3. Federal Direct Stafford Loan Acceptance: Stafford borrowers must accept each term's award before their funds for that term can be released. Complete this requirement on ISIS. Under "Financial Aid" choose "Awards and Disbursements" for 2007-2008. Students can also reduce or cancel their Federal Direct Stafford Loan here.
    4. Master Promissory Notes (MPN): Previous Federal Direct Stafford Loan borrowers should have an MPN on file. New borrowers who do not have an MPN on file must go to the Direct Loan MPN Web site to complete one.

    To receive funds:

    1. See “Receiving Aid”.