James A. Rhodes State College
Federal Family Education Loan Program
Federal Family Education Loans (FFEL) Stafford loans are available as a form of self-help aid. These loans are commonly referred to as subsidized or unsubsidized loans.
The subsidized Stafford loan is awarded on the basis of financial need. Students do not pay interest until the loan is in repayment. The federal government subsidized the interest during the time the student is enrolled in school
The unsubsidized Stafford loan is not awarded on the basis of financial need. Students will be charged interest from the time their loan is disbursed until the loan is paid in full.
Students can receive both a subsidized and an unsubsidized loan during the same enrollment period.
The total amount eligible is determined by enrollment status, COA and student EFC.
Maximum yearly loan amount
Student enrollment in a degree-seeking program may complete a loan application available from the Financial Aid Office. Students must be enrolled for and complete a minimum of six hours per quarter to be eligible for loans.
Students classified by the federal government as DEPENDENT are eligible to borrow the following amounts:
- $3,500 during the first 44 hours of earned coursework
- $4,500 during the remainder of the students program (maximum of 162 attempted hours)
Students classified by the federal government as INDEPENDENT are eligible to borrow to following amounts:
- $7,500 during the first 44 hours earned of course work (only $3,500 is subsidized)
- $8,500 during the remainder of the student's program - (maximum of 162 attempted hours and only $4,500 is subsidized)
James A. Rhodes State College may only process loans for the maximum number of attempted hours (162).
Students are reminded that the total debt they may accumulate during their ENTIRE undergraduate career (associate degree and bachelors degree) from all Stafford loans combined is $23,000 as a dependent student and $46,000 as an independent student.
* First time borrowers will be able to receive disbursement of their loan check until the final grades are posted. First time borrowers must also meet with Financial Aid Office personnel or go to www.mapping-your-future.org on the web for preloan counseling before the loan will be processed. Returning students who are not first time borrowers will have their funds available on the dates published for each quarter. Additionally, the Financial Aid Office will monitor first time borrower applications and may deny processing of applications to students who may be deemed "at-risk." "At-risk" students are those with either:
- High School GPA less than 2.0, or
- ACT composite less than 15