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Undergraduate Student Loans

The Federal Stafford Student Loan

Through the Federal Stafford Loan program matriculated dependent students enrolled at least half-time may borrow a maximum of $5,500 for their freshman year, $6,500 for their sophomore year, and up to $7,500 for both their junior and senior years. Students apply by completing the Free Application for Federal Student Aid (FAFSA), indicating that they are willing to accept financial aid in the form of a loan. There are two types of Federal Stafford Loans:

1. Subsidized: If the student demonstrates need based on the Student Aid Report, the federal government will pay the interest charge while the student is enrolled at least half-time. Students must pay the interest charge during the repayment period following graduation or withdrawal from the university. Students must be making satisfactory academic progress. These are 6% fixed interest loans.
   


2. Unsubsidized: All matriculated students enrolled for six credits or more may receive a Federal Unsubsidized Stafford Loan regardless of family income. However, the student will have to pay all interest charges until the loan is fully repaid. Students must be making satisfactory academic progress. These are 6.8% fixed interest loans.

NOTE: Request for student loans must be received at least 30 days prior to the last day of class of the semester for which the loan is requested.

Federal Parent Loan for Undergraduate Students (PLUS)

Parents of matriculated, dependent, undergraduate students enrolled at least half-time and making satisfactory academic progress towards a degree or certificate may borrow up to the cost of education from the federal government. Parents must be citizens or eligible non-citizens of the United States and pass a financial credit check. The PLUS loan, when added to other financial aid and/or resources, may not exceed the total cost of education for that academic year. To request a PLUS loan, the parent(s) must complete the Rowan University PLUS loan application, which is available at the Rowan Office of Financial Aid. These are 7.9% fixed interest loans.

To complete an 09/10 Parent PLUS Application

NOTE: Request for parent loans must be received at least 60 days prior to the last day of class of the semester for which the loan is requested.

Federal Parent PLUS loans can be deferred. For more information please visit our Frequently Asked Questions page.

Graduate Student Loans