Federal Family Education Loan Program (FFELP):  This is a federal loan program that provides low interest loans to students who are enrolled at least half-time and meet all other eligibility requirements.  There are three types of loans in this program:

• Federal Subsidized Stafford Loan:  This loan is awarded to students who demonstrate financial need and are enrolled at least half-time (six or more credit hours).  The U.S. Department of Education subsidizes the interest on this loan while the student is enrolled at least half-time and during periods of grace and deferment.

• Students at a freshman grade level (1-29 completed credit hours) may request up to $3,500 annually from this loan.
• Students at a sophomore grade level (30 or more completed credit hours) may request up to $4,500 annually from this loan.

• Federal Unsubsidized Stafford Loan:  This loan is awarded to students who are independent (as determined by the FAFSA) or who do not have a demonstrated need in order to qualify to receive the Subsidized Stafford Loan.  Students must be enrolled at least half-time (six or more credit hours).  Interest begins to accrue as soon as the loan is disbursed.  Students may chose to pay the interest while enrolled, or defer until after completing enrollment.

• Independent students may request up to $4,000 annually after eligibility for the Subsidized Stafford Loan has been exhausted.
• Dependent students may borrow this loan for the difference between their grade level annual maximum (described above) and the amount they can receive from the Subsidized Stafford Loan. 

• Federal Parent Loan for Undergraduate Students:  This loan is available to the parents of dependent students (as determined by the FAFSA) who are enrolled at least half-time. This is a credit-based loan and the parent borrow must begin repaying the loan while the student is enrolled.  Payments on both principle and interest begin sixty days after the first disbursement is made. The parent may borrow the difference between the student's cost of attendance and any financial aid received.