Federal Loans

Federal Direct Stafford Loan

The Federal Direct Stafford Loan Program provides low-interest, long-term student loans through Georgia Southern University. These loans are available in either Subsidized (need-based) or Unsubsidized (non-need based) funds. Funding for these loans is provided through the Department of Education.

The aggregate limit for an Undergraduate Dependent Student is $31,000 (up to $23,000 Subsidized maximum). The aggregate limit for an Undergraduate Independent Student is $57,500 (up to $23,000 Subsidized maximum).  The aggregate limit for Graduate students is $138,500.

Annual Loan Limits for Undergraduate Dependent Students*

Subsidized Loan

Maximum

Unsubsidized Loan

Maximum

Freshman $3,500 $5,500 (less any subsidized amount received)
Sophomore $4,500 $6,500 (less any subsidized amount received)
Junior $5,500 $7,500 (less any subsidized amount received)
Senior $5,500 $7,500 (less any subsidized amount received)

 

Annual Loan Limits for Undergraduate Independent Students**

Subsidized Loan

Maximum

Unsubsidized Loan

Maximum

Freshman $3,500 $9,500 (less any subsidized amount received)
Sophomore $4,500 $10,500 (less any subsidized amount received)
Junior $5,500 $12,500 (less any subsidized amount received)
Senior $5,500 $12,500 (less any subsidized amount received)

 

Annual Loan Limits for Graduate Students
$20,500 Unsubsidized Loan

*Post-Baccalaureate students are eligible for the Senior loan amounts (up to aggregate limits)

**Dependent Students with a Plus Denial are eligible for the Independent loan amounts & aggregate limits

Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013

There is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program. This is called your “maximum eligibility period”. You can usually find the published length of any program of study in your school’s catalog.

Please click HERE for more information.

Student Loan Origination Fees

There is a 1.069% origination fee for all student loans originated before October 1, 2017.   Please note the origination fees are subject to and may be changed by Federal Regulations.

Student Loan Interest Rates

There is a 4.45% interest rate for both Subsidized and Unsubsidized Direct Loans first disbursed on or after July 1, 2017 and before July 1, 2018.  Please note the interest rates are subject to and may be changed by Federal Regulations.

Enrollment Status & Student Loans

To be eligible for Stafford Loans, undergraduate students must be fully accepted into a program leading to a degree.  Students must also be enrolled at least half-time (6 credit hours) in courses that count towards their degree.

To be eligible for Stafford Loans, graduate students must be fully accepted into a program leading to a degree or certificate.  Students must also be enrolled at least half-time (5 credit hours for fall/spring; 3 credit hours summer) in courses that count towards their degree.  Graduate students who are provisionally admitted to a program are not eligible for financial aid until they are no longer in a provisional status.

The loan amount available is determined by the student’s grade level classification. For additional information, browse the Department of Education Direct Loan website.

Important Change Affecting Graduate Students in regards to Enrollment Status

Full-Time Enrollment for the Fall/Spring Semesters is nine (9) credits for all programs except:
Program

Full- Time Credits for

Fall/Spring

Full-Time Credits for

Summer

Master of Public Administration 8 6
Master of Music 7 6
Master of Science in Applied Economics 6 6
Master of Science in Computer Science 6 6
Master of Science in Nursing 5 5
Doctor of Nursing Practice 5 5
Doctor of Psychology 1 plus Full-Time Internship 1 plus Full-Time Internship
Half-Time Enrollment for the Fall/Spring Semesters is five (5) credits for all programs except:
Program

Half-Time Credits for

Fall/Spring

Master of Music 4
Master of Science in Applied Economics 3
Master of Science in Computer Science 3
Master of Science in Nursing 3
Master of Public Health 4
Doctor of Nursing Practice 3
Half-Time enrollment for Summer Semester is three (3) credits for all programs.

 


Federal Direct Parent Loan for Undergraduate Students (PLUS)

Parents of dependent students, who are enrolled at least half-time,  may be eligible for a PLUS loan to cover additional educational expenses. This loan application is available online at www.studentloans.gov and is funded through the Department of Education. Parents may borrow up to the cost of attendance, less other financial assistance received during the loan period. To apply, parents must complete the Parent PLUS Application and the student must have a valid FAFSA on file.

Parent PLUS Loan Interest Rates

There is a 7% interest rate for Direct Parent PLUS loans first disbursed on or after July 1, 2017 and before July 1, 2018.  Please note the interest rates are subject to and may be changed by Federal Regulations.

Parent PLUS Loan Origination Fees

There is a 4.276% origination fee for all PLUS loans originated before October 1, 2017.  Please note the origination fees are subject to and may be changed by Federal Regulations.


 Federal Graduate PLUS Loan Program

The Federal Graduate PLUS Loan Program is available to Graduate or professional students.

Students must:

  • Enroll as a graduate or professional student.
  • Complete the FAFSA.
  • Receive a determination of the maximum Direct Stafford Loan.
  • Enroll at least half-time for the semester (please see above about graduate enrollment).
  • Complete a Graduate PLUS application
  • Pass a credit check completed by the lender.
  • Complete REQUIRED Entrance and Exit Loan Counseling
  • Meet all other Title IV federal financial aid program requirements, such as Satisfactory Academic Progress requirements and eligible citizenship requirements.
GRAD PLUS Loan Interest Rates

There is a 6% interest rate for Direct GRAD PLUS loans first disbursed on or after July 1, 2017 and before July 1, 2018.  Please note the interest rates are subject to and may be changed by Federal Regulations.

GRAD PLUS Loan Origination Fees

There is a 4.276% origination fee for all PLUS loans originated before October 1, 2017.    Please note the origination fees are subject to and may be changed by Federal Regulations.

 

Federal Perkins Loan

The Federal Perkins Loan is a long term, low-interest loan available to students demonstrating exceptional financial need. It is available on a first-come, first-serve basis through Georgia Southern University. The typical award is $2000 per school year.

Perkins Overview:

  • A low-interest (5%) federal loan administered by Georgia Southern, available to undergraduate students who have exception financial need and meet other requirements.
  • Repaid in installments over a 10-year period beginning nine months after the student graduates or leaves school for other reasons.
  • Accrues no interest during the time the student is enrolled at least half-time (6 credit hours).
  • Has an interest rate of 5% per year that is assessed beginning with the repayment period.
  • Requires a Master Promissory Note to be signed

 

Last updated: 7/31/2017

Financial Aid • PO Box 8065 • Statesboro, Georgia 30460 • (912) 478-5413 • finaid@georgiasouthern.edu