Financial Aid 101

You have probably heard some common myths about financial aid, such as "My parents make too much money for me to qualify." In fact, virtually everyone qualifies for some form of financial aid, since it is not all need-based.

Financial Aid Options

• Free Money
• School-Sponsored Funding
• Federal Stafford Loans
• Federal PLUS Loans

Loan Limits

Dependent students may borrow up to the following:

Freshman	$5,500
Sophomore	$6,500
Junior	$7,500
Senior	$7,500

Independent students may borrow up to the following:

Freshman	$9,500
Sophomore	$10,500
Junior	$12,500
Senior	$12,500
Graduate/Professional Students	$20,500

The Department of Education determines the rate for all student loan programs, so rates will be the same from bank to bank. Interest rates are fixed at 6.0% and 6.8% for Stafford Loans and 8.5% for the PLUS loans disbursed after July 1, 2006.

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