William D. Ford Loans
To learn more about our William D. For Loans, please click a link below:
William D. Ford Federal Direct Subsidized Loan
William D. Ford Unsubsidized Loan for Dependent Students
William D. Ford Direct Unsubsidized Loan for Independent Students
William D. Ford Direct PLUS Loans
William D. Ford Direct Grad PLUS loan
William D. Ford Federal Direct Subsidized Loan
The
William D. Ford Federal Direct Subsidized Loan program provides low interest loans to students who are attending HBU at least half-time.
Students who "demonstrate need" must be enrolled at least half-time in a degree or teacher certification program. No interest accrues while in school at least half-time. Repayment begins six months after dropping below half-time and for loans disbursed on or after July 1, 2012 interest will accrue during the grace period. Submit the
Free Application for Federal Student Aid (FAFSA).
Annual maximum award:
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$3500 - Freshman
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$4500 - Sophomore
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$5500 - Junior/Senior
Aggregate limits:
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Undergraduate Dependent Students: $31,500 (no more than $23,000 of which can be subsidized).
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Undergraduate Independent Students: $57,500 (no more than $23,000 of which can be subsidized).
Repayment Plans
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William D. Ford Direct Unsubsidized Loan for Dependent Students
This loan is available to dependent students who do not demonstrate financial need. Applicants must seek aid from the Direct Subsidized Loan before applying for the Direct Unsubsidized Loan. The student is responsible for the interest that accrues on the Direct Unsubsidized Loan during in-school and deferment periods.
Undergraduate students are eligible for up to a $2,000 unsubsidized loan annually in addition to the Direct Subsidized Loan limits.
Submit the
Free Application for Federal Student Aid (FAFSA).
Repayment Plans
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William D. Ford Direct Unsubsidized Student Loan for Independent Students
This loan is available to independent undergraduate and graduate students who are enrolled at least half-time. The annual limit is $6,000 for the first and second year undergraduates. Students who have achieved third or fourth year status are eligible to borrow up to $7,000 annually, and graduate students may borrow up to $20,500 annually, not to exceed the cost of education. These amounts are in addition to the Direct Subsidized Loan amounts.
The subsidized and unsubsidized Direct Loan interest rates are variable and adjusted on an annual basis every July 1, but will not exceed 8.25%. Repayment begins six months after dropping below half-time and for loans disbursed on or after July 1, 2012 interest will accrue during the grace period. The borrower will be assessed up to a 1.0% origination/guarantee fee.
Submit the
Free Application for Federal Student Aid (FAFSA).
Annual maximum award:
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$6,000 - Freshman/Sophomore
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$7,000 - Junior/Senior
-
$20,500 - Graduate
Aggregate limits:
-
Undergraduate Dependent Students: $31,500 (no more than $23,000 of which can be subsidized)
-
Undergraduate Independent Students: $57,500 (no more than $23,000 of which can be subsidized)
-
Graduate Students: $138,500 (prior to July 1, 2012, no more than $65,500 of which can be subsidized)
Repayment Plans
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William D. Ford Direct PLUS Loan (Parent Loans for Undergraduate Students)
William D. Ford Direct PLUS loans are not need based. These loans allow credit worthy parents of dependent undergraduate students who are enrolled at least half-time to borrow up to the cost of education minus other aid. Repayment begins while the student is in school. Some deferment options are available. Borrowers are assessed a 4% origination/guarantee fee. The interest rate is variable and is adjusted each year, but will not exceed 9%. Submit the
Free Application for Federal Student Aid (FAFSA). Parent loan borrowers must complete the Statement of Educational Purpose and Distribution of Funds form from the
Forms Library.
Submit the
Free Application for Federal Student Aid (FAFSA).
Repayment begins while the student is in school.
Repayment Plans
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William D. Ford Direct Grad PLUS loan
These loans allow credit-worthy graduate students who are enrolled at lease half time to borrow up to the cost of education minus the Direct Loans and other aid. Some Deferment options are available.
Submit the
Free Application for Federal Student Aid (FAFSA).
Repayment begins while the student is in school.
Repayment Plans
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