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What's New as of June 27th, 2008
- New Federal Stafford Undergraduate Loan Limits
- Summer 2008 Financial Aid Information and Applications Available
- Have You Filed Your Free Application for Federal Student Aid (FAFSA) for 2008-2009?
New Federal Stafford Undergraduate Loan Limits
A recent change in federal loan legislation has increased the Federal Unsubsidized Stafford Loan borrowing limits for undergraduate students. Effective July 1, 2008, you may be eligible to increase your existing Federal Stafford Loan up to an additional $2000 through the unsubsidized Stafford loan to your existing financial aid award.
The following charts identify the new loan limits as of July 1, 2008:
Dependent Students
Except Students Whose Parents Cannot Borrow a PLUS Loan)
Class Standing |
Base Amount |
Additional Unsubsidized |
Total |
Aggregate Limit |
Freshman |
$3,500 |
$2,000 |
$5,500 |
$31,000 with a maximum $23,000 in sub Stafford |
Sophomore |
$4,500 |
$2,000 |
$6,500 |
|
Junior |
$5,500 |
$2,000 |
$7,500 |
|
Senior |
$5,500 |
$2,000 |
$7,500 |
Independent Undergraduate Students
& Dependent Students Whose Parents Cannot Borrow a PLUS Loan
Class Standing |
Base Amount |
Additional Unsubsidized |
Total |
Aggregate Limit |
Freshman |
$3,500 |
$6,000 |
$9,500 |
$57,500 with a maximum $23,000 in sub Stafford |
Sophomore |
$4,500 |
$6,000 |
$10,500 |
|
Junior |
$5,500 |
$7,000 |
$12,500 |
|
Senior |
$5,500 |
$7,000 |
$12,500 |
Summer 2008 Financial Aid Information and Applications Available
Summer financial aid is available for students that meet certain eligibility criteria and complete the 2008 Summer Financial Aid Application. Details about Summer financial aid eligibility and the Summer financial aid process can be found on our Summer Aid page.
Have You Filed Your Free Application for Federal Student Aid (FAFSA) for 2008-2009?
The 2008-2009 Free Application for Federal Student Aid (FAFSA) is available on the web at www.fafsa.ed.gov. The application should be filed as soon as possible after January 1st. Remember, only applications received by the federal processor before March 1st (Mason's priority filing date) will receive priority consideration for all available funds.
- You can file your Free Application for Federal Student Aid (FAFSA) through the web. All it takes is access to the web through Netscape Navigator or Internet Explorer and a PIN number from the Department of Education.If you do not already have a Department of Education PIN, one may be obtained from the Department of Education's PIN web site. (Note: Parents and students must obtain separate PIN numbers.) To access the online FAFSA filing process, just link on over to FAFSA on the Web.
- If you received your PIN from the Department of Education for your 2008-2009 Renewal FAFSA, you can complete your renewal online.