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%
2017-18 4.45%4.45%
2018-19 5.05%5.05%