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Unsubsidized Stafford Loan

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Eligibility Requirements:

• submit a FAFSA
• enroll as degree-seeking students
• U.S. Citizen or permanent resident
• Entrance Interview

Students do not need to demonstrate financial need.

Enrollment Requirements: You must enroll for at least 6 credits for each semester that you want to receive the loan.

Processing Fees: The lender is authorized to change the borrower origination and guarantee fees. These fees will not exceed 4% of the amount borrowed and they will be deducted from each semester's disbursement.

Interest Rate: Interest accrues while the student is enrolled in school and during the repayment period. The variable interest rate for each 12 month period will be adjusted each July 1 to equal the rate of the 91-day Treasury bill plus 3.1%.

Repayment Terms: Loan repayment begins 6 months after you cease to be enrolled at least half-time. The Maximum Repayment Period is 10 years.

Entrance Interview:Entrance loan-counseling sessions may be completed via the Web at Mapping Your Future. Locate "Online Student Loan Counseling" in center of page, click on appropriate entrance counseling session, choose the state of Maryland, and select St. Mary's College of Maryland.

Forms:
New Student Authorization Form
Returning Student Authorization Form
Master Promissory Note

Borrowing Limits:
Annual Borrowing Limits for Dependent Undergraduate Students:

Annual Borrowing Limits for Independent Students:

Aggregate (Lifetime) Borrowing Limits:

*Aggregate limits for graduate students include loans borrowed as an undergraduate student.