Federal Stafford Loan Information
Federal Stafford Loans include the subsidized and unsubsidized loan programs which are described below:
Subsidized
Federal Subsidized Stafford Loans are low interest rate loans available to students determined eligible for "need-based" financial aid.
Interest is paid by the Federal Government (subsidized) while you are enrolled at least half-time AND during your six-month grace period after leaving school. Repayment begins six months after you graduate, drop below half-time status, or withdraw from school.
Once you go into repayment there is a $50 per month minimum payment depending on the total amount of loans accumulated. Important - All Federal Stafford loans must be paid back within 10 years regardless of the total amount borrowed.
Unsubsidized
Federal unsubsidized Stafford Loans are low interest rate loans available to all students without regard to income. Link to site with current interest rate
Interest is not paid by the Federal Governmenton unsubsidized loans. Therefore, you must begin to repay interest and principal 60 days after the first loan check is issued. You can defer paying the interest and principal on your loan if your are enrolled at least half-time for the period of the loan. Also, interest can be Capitalized (added to the principal) if you desire.
Once you go into repayment, there is a $50 per month minimum payment depending on the total amount of loans accumulated. Important - All Federal Stafford loans must be paid back within 10 years regardless of the total amount borrowed.
Taking Out an Offered Loan
If you want to take out the Stafford Loan offered in your award, activate the loan on the myNorthridge Portal. Loan Entrance Counseling (through EDFUND) is required for all first-time CSUN borrowers and those who have not attended a session in the last 5 years or the student loans will be placed on hold.
Basic Requirements
- Must apply for financial aid using the Free Application for Federal Student Aid (FAFSA).
- Must be a U.S. Citizen or eligible non-citizen.
- Must be enrolled (or plan to be enrolled) in at least half-time units (6 units or if in Master program 4 units).
- Cannot be in Default on a student loan or owe a repayment on any grant funds.
- You must be achieving Satisfactory Academic Progress as established by the CSUN Financial Aid & Scholarship Department.
- Must submit all documents requested by the Financial Aid & Scholarship Department.
Annual Federal Stafford Loan Limits
| UNITS EARNED | BASE SUBSIDIZED/UNSUBSIDIZED | ADDITIONAL UNSUBSIDIZED ELIGIBILITY (only available to Independent and/or Master Program students) |
|---|---|---|
| 0-29 | $3500 | $4000 |
| 30-59 | $4500 | $4000 |
| 60-180 | $5500 | $5000 |
| Second Bachelors | $5500 | $5000 |
| Credential Program | $5500 | $7000 |
| Post Baccalaureate Unclassified - Master's | $5500 | $7000 |
| Master Program | $8500 | $12,000 |
Please note: the base loan amount may be a combination of subsidized and unsubsidized loan but will not be more than the established grade level and/or the cost of education.
Other Loan Related Sites:
To get an estimate of the amount of educational debt that you can reasonably afford given the expected starting salary for your major, visit the Student Loan Advisor.
The Loan Comparison Calculator computes an estimate of the size of your monthly loan payments for three loans at the same time.
The Interest Capitalization Calculator computes an estimate of the accrued interest and the new loan balance at the end of the deferment period. It also gives an impact of the capitalization on the total amount paid over the lifetime of the loan.
For an estimate of what your monthly loan payment might be, go to the Loan Payment Calculator.
The Loan Discounts Calculator computes an estimate of the savings you will get from participating in discount programs.
The Budget Calculator is used to calculate your costs and expenses to come up with a realistic budget for your financial well being.
If you have forgotten from whom you borrowed, the National Student Loan Data System (NSLDS) can provide you detailed loan and lender contact information. This service is free to borrowers.
This information is in PDF format. The freely available Adobe® Acrobat® Reader is required. Download a free copy
