Federal Direct Stafford Loan: Stafford Loans are either subsidized or unsubsidized. A subsidized loan is awarded on the basis of financial need as determined by the analysis of the Free Application for Federal Student Aid (FAFSA). Interest is not charged until the borrower enters repayment or during authorized periods of deferment. Eligibility for an unsubsidized loan is not related to financial need. Interest on unsubsidized loans is charged from the time the loan is disbursed until it is paid in full (the borrower may elect to accumulate and capitalize the interest while in school). A student may be eligible to receive both a subsidized and an unsubsidized loan for the same enrollment period. Students interested in obtaining a Stafford loan should contact the Financial Aid Office on the Juneau campus for information on eligibility requirements, interest rates, deducted fees, and payback requirements.
Entrance Counseling and the completion of a Master Promissory Note are required for all Federal loan recipients. Students may fulfill these requirements by accessing studentloans.gov. Graduate level students qualify only for the Unsubsidized Stafford Loan.
Federal Direct PLUS Loans (loans for parents or graduate students): Direct PLUS loans help pay for education expenses that are not covered by other financial aid. Borrowers (parents and Graduate students) must not have an adverse credit history. The maximum loan amount is the cost of attendance (determined by the school) minus any other financial aid received. All students receiving this loan must be at least half-time, fully admitted into an eligible degree or certificate program and meeting the general eligibility requirements for federal student aid Applications and additional information are available at studentloans.gov.