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Loans
Student
loan
programs
provide
long-term,
low
interest
loans
to
students
demonstrating
a
need
for
assistance.
Federal Stafford Loans
Auburn University participates in the Federal Family Education Loan Program (FFELP). The FFELP program provides incentives and services that benefit our students and parents. Please refer to the
Student Loan FAQ
for more information about loan requirements.
Federal
Stafford
Subsidized
Loans
Federal
Stafford
Subsidized
Loans
are
based
on
financial
need
as
well
as
annual
and
aggregate
loan
limits.
Interest
on
this
loan
does
not
accrue
during
eligible
periods
of
enrollment
and
stated
grace
periods.
The
interest
rate
is
variable
not
to
exceed
8.25%.
Both
interest
accrual
and
repayment
begins
six
months
after
graduation
or
when
a
student
is
no
longer
enrolled
at
least
half
time
(6
semester
hours).
Federal
Stafford
Unsubsidized
Loans
Federal
Stafford
Unsubsidized
Loans
are
based
on
annual
and
aggregate
loan
limits
and
is
not
need
based.
Interest
on
this
loan
begins
to
accrue
upon
the
first
disbursement.
The
interest
rate
is
variable
not
to
exceed
8.25%.
Principal
repayment
begins
six
months
after
graduation
or
when
a
student
is
no
longer
enrolled
at
least
half
time
(6
semester
hours).
- Entance
Interview
Students
must
complete
the
Entrance
Counseling
requirement
before
Stafford
Loan
funds
can
be
disbursed.
KHEAA
is
our
student
loan
partner
for
all
Stafford
and
Parent
Loans.
Investing
in
Your
Future,
KHEAA's
online
student
loan
entrance
counseling,
provides
details
about
what
a
student
loan
is,
advice
on
how
much
you
should
borrow,
and
when
you
should
expect
to
repay
your
loans.
To
complete
Entrance
Counseling,
visit
KHEAA
 .
After
your
data
is
submitted,
KHEAA
will
notify
our
office
electronically
within
24-48
hours
that
you
have
completed
the
requirement.
- Exit
Interview
During
the
term
that
you
expect
to
graduate,
you
will
be
asked
to
complete
an
Exit
Interview
if
you
have
had
a
Stafford
or
Direct
student
loan
while
at
AU.
To
complete
the
Exit
Interview
Requirement,
visit
KHEAA
.
At
this
time,
information
regarding
your
rights
and
responsibilities
relative
to
the
repayment
of
your
loan
will
be
provided.
When
your
grace
period
ends
and
your
loan
becomes
due,
you
will
be
sent
a
repayment
schedule
from
your
lender
outlining
the
monthly
principal
and
interest
payments
and
number
of
months
required
to
repay
your
loan
balance.
It
is
very
important
to
notify
your
lender
of
address
changes
so
that
you
will
receive
your
repayment
information.
- ESign
MPN
You
will
be
required
to
sign
a
Master
Promissory
Note
(MPN)
prior
to
your
funds
disbursing
to
your
account.
After
you
have
accepted
your
Stafford
Loan,
you
will
be
notified
by
KHEAA
that
your
MPN
is
ready
to
sign,
you
may ESign
your
MPN
with
KHEAA
.
When
you
ESign,
you
will
be
asked
to
select
a
lender.
A
list
of
lenders
that
participate
with
AU
is
listed
below:
-
Stafford lenders that participate with Auburn University
-
PLUS lenders that participate with Auburn University
Annual Loan Limits
(combined maximum for subsidized and unsubsidized)
under the Stafford Loan Programs:
- Dependent Undergraduate students
- Freshmen - $3500
- Sophomores - $4500
- Juniors and Seniors - $5500
The aggregate limit is $23,000.
- Independent Undergraduate students
- Freshmen - $7500
- Sophomores - $8500
- Juniors and Seniors - $10,500
The aggregate limit is $46,000 (no more than $23,000 may be in subsidized loans).
- Graduate Students - $20,500 annually, limited to cost of attendance (no more than $8500 of this amount may be in subsidized loans). The aggregate limit for graduate students is $138,500 (no more than $65,500 of this amount may be in subsidized loans).
- Veterinary Medicine students are eligible for the regular annual Stafford subsidized/unsubsidized annual loan maximum for a graduate student ($20,500, no more than $8,500 of which may be subsidized), plus the maximum increased unsubsidized amount of $20,000 for a 9 month academic year or plus $26,667 for a 12 month academic year, limited to cost of attendance.
- Pharmacy students are eligible for the regular Stafford subsidized/unsubsidized annual loan maximum for a graduate/professional student ($20,500, no more than $8,500 of which may be subsidized), plus the maximum increased unsubsidized amount of $12,500 for a 9 month academic year, or plus $16,667 for a 12 month academic year, limited to cost of attendance.
- The aggregate unsubsidized Stafford Loan limit for Veterinary Medicine and Pharmacy students is $189,125 less the aggregate amount of subsidized loans made to the student.
Federal Parent Plus Loans
Attention Parents - If you are the parent of a dependent student, you may be eligible to borrow under the Federal PLUS loan program. Before applying for the Federal PLUS loan, please be sure to have a completed FAFSA on file at Auburn University. Your dependent student must also be enrolled at least half time and maintaining Satisfactory Academic Progress. See our SAP Policy under 'Special Information' on this site. In addition, the student must meet all other requirements of Title IV aid, as determined by the Department of Education. The maximum amount that the parent may borrow under the Federal PLUS loan program, is Cost of Attendance minus any other aid (scholarships, grants, loans, waivers, etc) received by the student.
Please visit our
Parent PLUS Lender List
for benefits, incentives, websites, and phone numbers of the lenders that participate electronically with Auburn University. You will apply directly through your chosen lender, either by choosing the 'Apply Now' link on the electronic lender list, or by calling the lender. If you choose a lender not listed on this electronic list, please call our office for special instructions.
Your lender will contact Auburn University for a Loan Certification once your application is approved and a Master Promissory note has been collected.
2008-09 PLUS Institutional Supplement Form - In addition to an application with your lender, Auburn University will need an Institutional Supplement Form. Please complete and submit this form online.
Federal
Perkins
Loan
Federal
Perkins
Loans
 are
federally
funded
loans
that
are
awarded
to
students
with
exceptional
financial
need.
Repayment
and
accrual
of
interest
at
the
rate
of
5%
begin
nine
months
after
the
student
is
no
longer
enrolled
at
least
half
time
(6
semester
hours).
The
minimum
repayment
is
$40
per
month
and
repayment
may
be
extended
for
up
to
10
years.
Health
Professions
Student
Loan
The
Health
Professions
Student
Loan
Program
is
a
federally
funded
loan
program
available
to
students
in
Pharmacy
and
Veterinary
Medicine
who
demonstrate
financial
need.
Repayment
and
accrual
of
interest
begin
12
months
after
the
student
drops
below
half-time
enrollment
status.
The
interest
rate
is
5%
and
the
repayment
period
may
be
extended
to
a
maximum
of
10
years.
Parental
Financial
Data
Must
Be
Provided
In
All
Cases,
Even
For
Independent
Students,
In
Order
To
Be
Considered
For
This
Loan
Program.
Non-federal
Alternative
Loans
Many private lenders offer
Alternative Loans
to supplement federal eligibility. Applications are available through the individual lenders. Detailed information regarding Alternative Loans is included in the linked PDF file. Choose the "View" "Zoom in" tabs in Acrobat Reader in order to better view the document.
Graduate PLUS Loan
Recent legislation has designated that graduate students will be allowed to borrow under the Federal PLUS program to assist with educational costs. It is advised that you maximize your yearly Stafford Subsidized and Unsubsidized eligibility before you apply for the
Graduate PLUS loan.
Our lender list includes the lenders who participate in the Graduate PLUS program with AU.
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Loans
