Stafford - Student Loans
From UConn Student Financial Aid Services
- Federal need and non-need based program
- Fixed 6.8% interest rate; Subsidized Stafford Loans for undergraduate students only that are first disbursed on or after 7/1/08 will carry a fixed interest rate of 6.0%
- Subsidized Federal Stafford Loans available to eligible students registered at least half-time
- Unsubsidized Federal Stafford Loans available to all students registered at least half-time
- Repayment begins six months after a student's enrollment drops below half-time status or the student graduates
- FAFSA is required
- Complete the Federal Stafford Loan Entrance Counseling requirement
- Contact your lender to complete the Federal Stafford Loan Master Promissory Note (MPN)requirement
- Complete the Exit Counseling requirement
 View Our Suggested Federal Stafford Loan Lenders
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Stafford Loan FAQs:
Am I eligible for a Federal Stafford Loan?
To be eligible for a Stafford loan, you must satisfy a number of requirements, including (but not limited to):
- Be enrolled at least half-time
- Maintain satisfactory academic progress
- Be registered with the Selective Service (men only)
- Be a U.S. citizen, national, or eligible non-citizen
What kinds of Federal Stafford Loans are available?
There are two kinds of Stafford loans: subsidized and unsubsidized.
Subsidized Stafford loans are need-based, meaning they're reserved for students who need financial help the most. Also, the government pays the interest on a subsidized Stafford loan as long as you're enrolled at least half time or are in the grace period. After that, the interest is your responsibility.
Unsubsidized Stafford loans are not need-based, meaning they're available to all eligible students regardless of how much financial help they need. Also, you're responsible for the interest on an unsubsidized Stafford loan as soon as UConn receives the money. You can choose to pay the interest while you're still in college or defer interest payments until you graduate. If you choose the second option, the interest that accrues while you are in-school will capitalize (be added to your principal balance) when you enter repayment.
As a first time borrower at UConn, how do I accept a Federal Stafford Loan?
To accept your Federal Stafford Loan (FSL) you will be sent an email requesting you access the Student Administration System (SA). You must go to the Student Administration System to accept the Federal Stafford Loan (FSL) and choose a lender. We maintain a list of Suggested Stafford Lenders that we believe offer competitive pricing, easy loan processing, and strong customer service. You may choose one of our suggested lenders or any other lender who participates in the Federal Stafford Loan program. Your loan will be electronically transmitted to the lender of your choice. You will then receive a letter or email from your lender with instructions regarding completion of the Master Promissory Note (MPN) You will also receive instructions from our office on completing the entrance counseling requirement. Your lender will contact you via email or mail with instructions to complete your Master Promissory Note (MPN). Loan funds will not be deferred on your fee bill or sent to the University until you complete a Master Promissory Note (MPN) and the entrance counseling requirement, which details the terms and conditions of the loan.
As a continuing borrower at UConn, how do I apply for a Federal Stafford Loan?
When you accept a Federal Stafford Loan, and you have signed a MPN at UConn during a prior academic year, OSFAS will notify your guarantor of your requested loan amount. Your serial Federal Stafford Loan will be processed through the same lender you selected on the original MPN. You will not be required to complete a new MPN if you continue to borrow through the same lender. If you choose to borrow through a different lender, you must notify our office and complete a new Master Promissory Note with your chosen lender. In order to keep track of your loan debt, it is important to pay attention to your award notices and disclosure statements from your lender.
How much can I borrow?
The amounts listed below are the maximums an undergraduate student may borrow each year. However, a student may never borrow more than the cost of education minus any other financial aid received.
| Grade Level | Annual Loan Total |
| Freshman (0-23 credits) | $ 3,500 / year |
| Sophmore (24-53 credits) | $ 4,500 / year |
| Junior (54+ credits) | $ 5,500 / year |
If you are a dependent student whose parents have applied for, but were denied a PLUS Loan, or if you are an independent undergraduate student, you may be eligible for an additional Unsubsidized Stafford Loan amount. If you are eligible for this additional unsubsidized amount, each year you can borrow up to:
| Grade Level | Annual Loan Total |
| Freshman (0-23 credits) | $ 7,500 / year (maximum $ 3,500 subsidized) |
| Sophmore (24-53 credits) | $ 8,500 / year (maximum $ 4,500 subsidized) |
| Junior (54+ credits) | $ 10,500 / year (maximum $ 5,500 subsidized) |
Transfer Students: Initial awards will be based on your projected academic level as determined by the Office of Undergraduate Admissions. Based upon a final credit assessment, your academic level may change. The change may result in a revision to your original financial aid package. Loan funds may not be disbursed until the final credit evaluation is complete.
Graduate Students: Maximum $8,500 Subsidized FSL plus $12,000 Unsubsidized FSL
When will I receive my Federal Stafford Loan funds?
Federal Stafford Loans are disbursed to the University in two payments, one for the fall semester and one for the spring semester. To expedite the disbursement of your loan funds, you should complete your semester registration as early as possible, and be sure that you have submitted all required paperwork and completed all requirements.
Can I borrow a Federal Stafford Loan for Summer?
Summer Federal Stafford Loan eligibility is based on Fall/Spring borrowing and annual loan limits per grade level. To be considered for a Federal Stafford Loan, you must have filed a FAFSA for the previous academic year and completed a summer application (available in the Spring in our Forms section).
What is required when I leave UConn?
Each Federal Stafford Loan borrower at the University of Connecticut is required to complete Student Exit Counseling shortly before completing a degree, or leaving the University (i.e., withdrawing).
To complete this requirement, click here.
If you do not have access to the Internet, please contact our office at 860-486-2819 for further guidance from a member of our client services staff. You will not be able to obtain an official academic transcript or be readmitted to the University until you complete this requirement.
Are there any fees?
In addition to interest, borrowers may be charged Origination and Federal Default fees for Federal Stafford Loans. These fees range from zero to 2 percent for the 2008/2009 academic year and are deducted automatically from the total loan amount. Some of our suggested Stafford lenders offer loans with reduced origination and/or default fees. Check with your chosen lender to see what fees (if any) will be deducted.
Where can I find information about repayment, deferment, or cancellation?
Additional information on repayment, as well as deferment and cancellation options, is available from your lender or this web link.
To help you estimate your monthly repayment amount, a loan repayment calculator is available here.
Suggested Federal Stafford Loan Lenders
For more information on how our Suggested Lenders were chosen, please see our Lender Selection page.
2008-2009 Suggested Federal Stafford Loan Lenders
(in alphabetical order - for loans first disbursed on or after 7/1/08) 
| Lender | Fees Paid by Borrower (deducted from your loan funds before funds are sent to the University) | Automatic Benefits | Benefits That Must Be Earned | Loans Serviced By | Are Loans Sold? | Contact Information |
|---|---|---|---|---|---|---|
| Access Group | 1% | *The guarantor (EdFund) pays the 1% Federal Default Fee on the borrower's behalf. | *Borrowers who sign up to have their payments debited automatically will receive a .25% interest rate reduction. | Access Group | No | *Telephone = 800-282-1550 *Access Group Website |
| Chase | 2% | *Borrowers who sign up to have their payments debited automatically will receive .25% interest rate reduction. | * Chase | *No | *Telephone = 800-487-4404 *Chase Website | |
| Citibank | 1% | *The guarantor (EdFund) pays the 1% default fee on the borrower's behalf Borrowers are eligible for a .50% interest rate reduction at repayment. All payments must be made within 5 days of the due date to retain this benefit. | *Citibank will pay your last six monthly payments if all other payments are made within 5 days of the due date. *Borrowers who sign up to have their payments debited automatically will receive .25% interest rate reduction. | *Citibank | *No | *Telephone = 800-967-2400 *Citibank Website |
| Citizens Bank | 2% | *Borrowers who sign up to have their payments debited automatically will receive a 0.25% interest rate reduction. | Sallie Mae | No | *Telephone = 800-708-6684 *Citizens Website | |
| Connecticut Student Loan Foundation (CSLF) | 1% | *CSLF will pay any portion of the Federal Default fee that is not covered by the guarantor. | *Borrowers who sign up to have their payments debited automatically will receive a 0.25% interest rate reduction | Ed Financial | No | *Telephone 800-237-9721 *CSLF Website |
| Sallie Mae Ed Trust | 2% | *Borrowers who sign up to have their payments debited automatically will receive a 0.25% interest rate reduction. | Sallie Mae | No | *Telephone = 888-272-5543 *Sallie Mae Website |
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