To be eligible for the Federal Stafford Loan, you
- must be an undergraduate, graduate or professional student enrolled at least half-time as a degree-seeking student
- must be a U.S. citizen, U.S. national or permanent resident of the United States
- cannot be in default on a Federal education loan or owe a repayment of Federal Title IV aid
- must have financial need to receive a SUBSIDIZED Stafford Loan; the U.S. Department of Education will pay (subsidize) the interest that accrues on Subsidized Stafford Loans during certain periods.
Financial need is not a requirement to obtain an UNSUBSIDIZED Stafford Loan; the borrower is responsible for the interest that accrues on Unsubsidized Stafford Loans.
Award Amounts
Stafford Loan limits depend on year in school and dependency status.
|
YEAR/ |
BASE AMOUNT |
ADDITIONAL |
TOTAL |
|
DEPENDENT |
|||
|
Freshman |
$3,500 |
$2,000 |
$5,500 |
|
Sophomore |
$4,500 |
$2,000 |
$6,500 |
|
Junior or Senior |
$5,500 |
$2,000 |
$7,500 |
|
Independent |
|||
|
Freshman |
$3,500 |
$6,000 |
$9,500 |
|
Sophomore |
$4,500 |
$6,000 |
$10,500 |
|
Junior or Senior |
$5,500 |
$7,000 |
$12,500 |
|
Graduate Students |
n/a |
$20,500 |
$20,500 |
Interest Rates and Fees
For Stafford Loans disbursed between July 1, 2024, and June 30, 2025, the interest rate is fixed at 6.53% for undergraduate Subsidized Stafford Loans and Unsubsidized Stafford Loans. Interest rates are fixed at 8.08% for all graduate/professional Unsubsidized Stafford Loans. The borrower will be assessed a fee of 1.057% of the amount borrowed in government fees. The 2025 - 2026 Stafford loan interest rates will be available on July 1, 2025.
Steps to Apply for a Federal Stafford Loan
- File the (this is a requirement) and submit all documents requested by the Financial Aid Office at Rose-Hulman. You can check for those documents needed online through Banner Self Service Banner Web.
- The Financial Aid Office will send the student an Award Notification Letter that the borrower can use to determine loan period, the type of eligibility and the amount of eligibility. The borrower needs to determine how much they want to borrow and will have the option to accept the full amount offered or reduce the loan amount via the online Banner Self Service. Further guidelines will be provided on this process.
- The borrower must complete a if the MPN is not already on file. This can be done with your FSA ID.
Repayment Information
Loan repayment is deferred as long as the student remains enrolled at least half-time in a degree-seeking program. Log into to get info about your loans.
Sample Estimated Monthly Repayment Chart*:
|
Amount Borrowed |
Payment |
|
$5,000 |
$57 |
|
$10,000 |
$114 |
|
$20,000 |
$228 |
|
$30,000 |
$342 |
|
$50,000 |
$570 |
*Assumes interest rate of 6.53% and all payments made as scheduled on 10-year repayment term (excludes any borrower benefit savings).