How do I request an Unsubsidized Stafford Loan?
Requesting an Unsubsidized Stafford Loan
If you have received your financial aid award letter, check your "Cost of Attendance" Budget, and your total awarded amount. If your total awards do not add up to meet your budget, that means there is the possibility you could request more loans.
There are two types of Direct Stafford Loans--Subsidized and Unsubsidized.
Subsidized loans are "need based", and are offered on your award letter if you qualify. There is no interest on Subsidized loans while you are still in college at least half-time.
Unsubsidized loans are not need based, and are NOT offered on your award letter, even if you qualify for them. This is because they charge interest during your time in college, even though you are not required to pay, and the Lane Financial Aid Team wants you to really assess how much loan you need before giving you an Unsubsidized loan.
To find the Unsubsidized Stafford Loan Request form, the best way is to go to AskLane, and type in "Where are forms?". Choose the Financial Aid Forms link to get to that page, and then click on Unsubsidized Stafford Loan request form.
If you are considered a "Dependent" student, you may request up to an additional $2000 per year in Unsubsidized Stafford loan. If you are considered an "Independent" student, the Unsubsidized loan can be up to $6000 per year. These maximums cannot cause your overall award to go over your Cost of Attendance Budget, and if they would, then you will receive a lower amount of Unsubsidized loan.