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Loans

The Federal Stafford Student Loan

Through the Federal Stafford Loan program matriculated students enrolled at least half-time may borrow a maximum of $3,500 for their freshman year, $4,500 for their sophomore year, and up to $5,500 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.


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.

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.

To complete an 08/09 PLUS loan application click here

To download a 07/08 PLUS loan application click here (pdf format - requires Acrobat Reader)

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.