Federal Stafford Loan

What is it?
A long-term loan which students begin to repay six months after they graduate or drop below half-time enrollment.

Subsidized & Unsubsidized:
A subsidized loan is a need based loan in which the US Department of Education pays the interest while the student is enrolled with at least six credits. An unsubsidized loan is available to students who do not demonstrate finanicial need. Students are responsible for the interest while enrolled in school. Interest begins to accrue on the day funds are disbursed and can be paid quarterly or capitalized and added to the loan principal. Borrowers can receive subsidized and unsubsidized loans for the same period, but the combined total of both programs can not exceed the annual loan limits.

Who qualifies?
Students who have completed the FASFA and indicated they are interested in loans and are enrolled for at least six credits per semester.

How much can I borrow?
The annual loan limits are based on the number of completed credits at Pitt-Greensburg:

Completed Credits	Dependent Undergraduate (except students whose parents are unable to obtain PLUS Loans)	Independent Undergraduate (and dependent students whose parents are unable to obtain PLUS loans)
Level 1    00 - 23 credits	$3500 plus $2000 in unsubsidized loans	$9500-No more than $3500 may be subsidized
Level 2    24 - 53 credits	$4500 plus $2000 in unsubsidized loans	$10500-No more than $4500 may be subsidized
Level 3 & 4    54+ credits	$5500 plus $2000 in unsubsidized loans	$12500-No more than $5500 may be subsidized

Independent students may borrow an additional $4,000 to $5,000.

How do I apply?
Stafford borrowers must complete the FAFSA, the Stafford Master Promissory Note, and the Entrance Counseling Interview. If you are a first-time borrower or it is your first time borrowing at Pitt-Greensburg, you must complete a federally required counseling session before receiving the first disbursement of your loan. You can fulfill this requirement by completing the Stafford Entrance Counseling online using the link below.

If for some reason you do not want the loan or you want a lesser amount you must indicate this to us or your Financial Aid Acceptance Card so that adjustment can be made.

If selected, all Verification forms must be submitted.