Stafford Loan

Federal Stafford Student Loan

Before applying, make sure you know your Federal Student Aid PIN that you used to file your Free Application for federal Student Aid (FAFSA). Just like on the FAFSA, the PIN serves as your electronic signature on your MPN.

Steps for New Borrowers to take for Stafford Loans:

Borrowers new to Saint Joseph's College - complete the first two steps at www.studentloans.gov. The third step is the completion of a Loan Request Form which is submitted to our office.

  1. Go to: https://studentloans.gov - Click the green SIGN IN button. Sign in using the information requested.
  2. Complete BOTH the following:
    1. Complete Entrance Counseling
    2. Complete Subsidized/Unsubsidized Master Promissory Note
  3. Complete the Stafford Loan Request Form

Current Saint Joseph's College students who have already borrowed Stafford Loans

For those students who cease to be enrolled more than half time

Extended Unsubsidized Stafford Loan

If your parent has applied for and been denied the Parent Loan for Undergraduate Students (PLUS), you are now eligible to borrow under the Extended Unsubsidized Stafford Loan program.

This is an interest accruing loan and you have chosen on your Master Promissory Note (MPN), whether or not you wish to make interest payments or allow the interest to accrue and pay it when you leave college.

If you are interested in obtaining this loan, please complete the Extended Unsubsidized Stafford Loan form and mail it to Student Financial Services as soon as possible. The maximum amount that you may borrow is listed on the loan request form, notated by grade level, subject to Cost of Attendance minus financial aid totals.

Extended Unsubsidized Stafford Loan form

Federal Direct Subsidized and Unsubsidized Stafford Loans

The terms of the need based Federal Direct Subsidized Stafford Loan Program require that the student borrower repay, with interest, this source of financial assistance. This program is referred to as subsidized because no interest is charged while the student is enrolled in school and during the six month grace period.

The terms of the non-need based Federal Direct Unsubsidized Stafford Loan Program require that the student borrower repay, with interest, this source of financial assistance. This program is referred to as unsubsidized because the interest is not paid by the federal government while the student is enrolled in school. Interest on Direct Unsubsidized Loans begins to accrue after disbursement of the loan funds, however, the student may choose to have the payment of the interest deferred during enrollment and later capitalized (added to principal) at the time of repayment.

Additional terms of the Federal Direct Subsidized and Unsubsidized Stafford Loans, subject to federal regulation, include:

  • Interest Rates and Fees

Subsidized Interest Rate:

4.66% fixed for life of loan, effective 7/1/14

Unsubsidized Interest Rate:

4.66% fixed for life of loan, effective 7/1/14

Unsubsidized (graduate level loan):

6.21% fixed for life of loan, effective 7/1/14

 

Origination Fees:

 

1.073%*

*The Federal Direct Subsidized and Unsubsidized Stafford Loans have a 1.073% origination fee, which will be deducted from the gross amount of the loan borrowed.

  • Repayment begins six months after the student ceases to be enrolled in school on at least a half-time basis and generally extends over a 10 year period.
  • Annual borrowing limits for Dependent Students

Year

Subsidized

Unsubsidized**

TOTAL

1

$3,500

$2,000

$5,500

2

$4,500

$2,000

$6,500

3,4

$5,500

$2,000

$7,500

  • Annual borrowing limits for Independent Students**

Year

Subsidized

Unsubsidized**

TOTAL

1

$3,500

$6,000

$9,500

2

$4,500

$6,000

$10,500

3,4

$5,500

$7,000

$12,500

**If a Federal Direct PLUS Loan is applied for by a parent and denied based on credit, a dependent undergraduate may borrow at the independent levels listed above.

 

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    Like Elementary Education major Brittany Cooper ’12, you start your major as soon as you walk in the door, so you will have four years of knowledge and experience in your field.You can even change your mind about your major and still graduate on time with lots of experience.

    Core and the major work in harmony to develop the cognitive skills requisite for success in a competitive, global society. Students better understand the forces that shape the future by exploring the past. They discuss contemporary events; analyze the impact of science on our understanding of humanity and the universe; and investigate diverse cultures and world civilizations. 

  • Mentorship

    Small colleges offer you personal attention; SJC professors, such as Communication Professors Fred and Sally Berger, do more for you—they serve as mentors. Studies show that having a mentor leads to success in your field. Alumni often tell us how their professors not only played a major role in their success, but also became lifelong friends.  If you are undecided about what to major in, we help you decide.

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    In the Core Program, you will be inspired to debate, analyze, and solve problems. Discussion of culture and society, the modern world, and Christian Humanism are just a few highlights of the Program. New perspectives will be gained, your worldview will expand, and you will graduate from SJC as a well rounded, highly marketable person.

  • Leadership

    You get more deeply involved at SJC, so you get more meaningful experiences that prepare you for career and life. LaMichelle Sanders ’14, for example, has spent two summers helping Chinese study abroad students adapt to life in the U.S. and at SJC. If you want to start a club or activity that doesn’t exist, we encourage you to start one. At SJC, prepare yourself for what you want to do in life.

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    Because of the skills you develop by having the Core Program interact with your major for four years in addition to internships, job shadowing, and service learning, you get hands-on experience in preparation for your career or graduate school. Students Hanna Kane ’14, Emily Baird ’15, and Alyssa Guarnaccia ’14 collect food in the SJC hoophouse to be distributed on campus. You will also get four years of analytical, writing, and speaking skills that will serve you well for the rest of your life.

  • Start Your Major Freshman Year

    Get a jump start on your career and have your resume ready to go at graduation.  

  • Mentorship

    Small colleges offer you personal attention; SJC professors do more for you—they serve as mentors.

  • High Quality Academics

    The Core Program is all about you and your role in the world.

     

  • Leadership

    You get more deeply involved at SJC, so you get more meaningful experiences that prepare you for career and life.

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