Federal Direct Stafford Loans
A Free Application for Federal Student Aid (FAFSA) must be completed. Steps to complete a FAFSA are listed under the FAQ & Hintstab.
If you apply for financial aid, you may be offered loans as part of your financial aid offer at JSU. A loan is money you borrow and must pay back with interest.
If you decide to take out a loan, make sure you understand who is making the loan and the terms and conditions of the loan. Student loans can come from the federal government or from private sources such as a bank or financial institution. Loans made by the federal government, called federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources. Learn more about the differences between federal and private student loans. Additional loan information is located on studentaid.gov.
A federal student loan allows students and their parents to borrow money to help pay for college through loan programs supported by the federal government. These loans usually have low interest rates and offer attractive repayment terms, benefits and options. Generally, repayment of a federal loan does not begin until after the student leaves school. Federal student loans can be used to pay school expenses such as tuition and fees, housing, books, supplies, and transportation. Jacksonville State University participates in the Federal Direct Stafford Loan Program. (See more information on the Direct Stafford Loan Program below.)
The Annual Loan Limits (combined maximum for subsidized and unsubsidized) under the Federal Loan Programs:
For undergraduate dependent students include a maximum aggregate loan eligibility of $31,000 and award amounts for each academic year up to $5,500 (freshmen), $6,500 (sophomores) and $7,500 (juniors and seniors).
For undergraduate independent students a maximum aggregate loan eligibility of $57,500 and award amounts for each academic year up to $9,500 (freshmen), $10,500 (sophomores) and $12,500 (juniors and seniors).
For graduate/professional students a maximum aggregate loan eligibility (including undergraduate loans) of $138,500 and the award amount of up to $20,500 per academic year.
The amount a student may borrow is limited to the cost of attendance set annually by JSU minus any other financial aid. You may contact our office for more information on the cost of attendance. A student who receives a loan must be enrolled in at least half time in financial aid eligible coursework within a financial aid eligible program and complete Entrance Counseling and a Master Promissory Notebefore disbursement of funds.