Stafford Loans

Stafford Loans are available to students at Armstrong who are enrolled and verified in attendance at least half-time. For all undergraduate, post-baccalaureate, limited, and provisionally-admitted students, half-time is at least six credit hours. For all regularly-admitted graduate students, half-time is at least three credit hours.  Stafford Loans can be either subsidized or unsubsidized.

A subsidized Stafford Loan is awarded on the basis of financial need. A student is not charged interest on this loan while he or she is enrolled in school at least half time or during authorized periods of deferment. The federal government "subsidizes" the interest during these periods.  Only undergraduate students are eligible for subsidized loans.

An unsubsidized loan is not awarded on the basis of financial need; therefore, the student will be charged interest on the loan from the time it is disbursed until the time it is paid in full. If you allow the interest to accumulate, it will be capitalized -- that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount. Capitalization will increase the amount you have to repay. Armstrong suggests that you pay the interest prior to capitalization.

How much am I eligible for?