Federal Stafford Loan (unsubsidized)

Graduate students may borrow up to $20,500 annually. Repayment of principal begins six months after graduation or when you are no longer enrolled at least half-time. The fixed interest rate is set by the Department of Education and will be established each award year. A small processing fee will be withheld by the Department of Education from your requested loan amount. Federal regulations require the loan proceeds to be disbursed in two equal amounts. These proceeds are applied directly to your tuition account. Unsubsidized Stafford Loans are available through the Direct Loan program, which is administered by the federal government. All loans will be processed with the Department of Education as your lender. First-time borrowers will be required to complete a Master Promissory Note with the Department of Education and are also required to complete student loan entrance counseling at www.studentloans.gov. Information about the Federal Stafford Loan (unsubsidized) may be obtained from the Office of Financial Planning website at elon.edu/finaidborrow.