Loans

Our financial advisors will explain the loan process to you, and how this valuable resource can help you finish college. 

Step 1:

Before completing the loan application, you must complete the FAFSA. You'll then receive a formal determination from SC4's Financial Aid Office. A formal determination can be either:

  • An SC4 award letter, or
  • An SC4 letter indicating that you are ineligible for a grant but may apply for a loan. 

Step 2:

First-time borrowers must complete the following:

Returning borrowers must complete:

Stafford Maximums

Student Level
& Dependency Status

Maximum Stafford
(subsidized and unsubsidized)

Maximum Subsidized

Dependent freshman

$5,500

$3,500

Dependent sophomore

$6,500

$4,500

Independent freshman

$9.500

$3,500

Independent sophomore

$10,500

$4,500

 

Lifetime limits

Student Level
& Dependency Status

Maximum Stafford
(subsidized and unsubsidized)

Maximum Subsidized

Dependent undergraduate

$31,000

$23,000

Independent undergraduate

$57,500

$23,000

 

Phased-in Cuts in Interest Rates on
Subsidized Stafford Loans for Undergraduate Students

Year

Interest Rate
Subsidized Stafford Loans
(Undergraduate Students)

Interest Rate
Other Stafford Loans
(Undergraduate Students)

2007-08

6.8%

6.8%

2008-09

6.0%

6.8%

2009-10

5.6% 6.8%

2010-11

4.5% 6.8%

2011-12

3.4% 6.8%

2012-13

6.8% 6.8%

2013-14

3.86% 3.86%

2014-15

4.66% 4.66%
2015-16 4.29% 4.29%
2016-17 3.76% 3.76%