What is the difference between a subsidized Stafford and an unsubsidized Stafford loan?
The federal government pays the interest on a subsidized loan for you while you are in school. However, the interest on an unsubsidized loan will accrue while you are in school.
Do I have to pay the interest on an unsubsidized Stafford loan while I am in school?
No, you do not have to pay any interest while you are in school. However, you may choose to make payments in an effort to keep the interest down. When you leave school, the accrued interest on the unsubsidized loans will be capitalized (added to the principal). You will then pay interest on the interest that has been capitalized.
Why didn’t I receive a subsidized Stafford loan?
Your eligibility for a subsidized Stafford loan is determined by the results of the FAFSA. The calculation also includes any other grants or scholarships that you may receive.
Why don't I see my loans posted to my account on my expected disbursement date?
The Department of Education authorizes loan delivery approximately two business days after the expected loan disbursement. If you are a first time borrower, please insure you have completed a MPN and Entrance Counseling with studentaid.gov. Loans are certified once all documents have been received and reviewed.
How soon can I expect a refund?
If your loans create a credit balance, contact Student Accounts to see when they send out refund checks.
**Remember to notify the Financial Aid Office if your number of enrolled units is changed or adjusted, as this could affect your Financial Aid award letter.**