Federal Stafford Loans (FSL) are offered to students attending the University of Connecticut at least half-time. A student’s established financial need and the cost of attendance determine loan eligibility. “Subsidized” FSL eligibility—where the government subsidizes the interest during a student’s time in school—is based on financial need.
If a student does not qualify for a subsidized FSL, the student may borrow an “unsubsidized” FSL. In this case, the student is responsible for the interest that accrues on the loan, and the student has the option to either pay the interest while in school or defer payment of the interest until principal payments begin six months after graduation.
Federal Parent Loans for Undergraduate Students (PLUS) enable parents or guardians with good credit histories to borrow for each dependent child who is enrolled at least half-time. The yearly loan limit is the student’s cost of education minus any financial aid a student receives.
If a parent is denied a Federal PLUS Loan due to a poor credit history or overextension (documentation is required each academic year), the dependent student would then be eligible to receive an additional unsubsidized FSL.
Federal Perkins Loans are offered to eligible students. UConn gives priority to students who qualify for lower annual loan limits under the Federal Stafford Loan program. For more information, review the Annual Loan Limits chart to the right.
|
Annual Loan Limits for Federal Stafford Loans
| $3,500 |
First Year |
(0-23 credits) |
| $4,500 |
Second Year |
(24-53 credits) |
| $5,500 |
Other Undergraduate |
(54+ credits) |
$3,500 + $4,000
(additional unsubsidzed loan) |
First Year |
$4,500 + $4,000
(additional unsubsidzed loan) |
Second Year |
$5,500 + $5,000
(additional unsubsidzed loan) |
Other Undergraduates |
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