LOANS
Subsidized Federal Direct Student Loans
Through this program students can receive loans from the Federal Government. The interest, variable but capped at 8.25 percent, is paid by the government to the lender while the student is enrolled and for the six-month grace period after the student graduates or ceases at least half-time attendance. Loan repayment begins at the termination of the grace period. All borrowers are required to complete a FAFSA form. Undergraduate students at the freshmen level can borrow $2,625; sophomores, $3,500; juniors and seniors, $5,500 per loan period (three semesters), to an aggregate maximum of $23,000. Graduate students can borrow $8,500 per loan period (three semesters), to an aggregate maximum of $65,000 (undergraduate and graduate borrowing combined).

Unsubsidized Federal Direct Student Loans
Students who do not demonstrate documented need may borrow under this program. The student borrower will be charged interest from the time the loan is disbursed until it is paid in full. The loan limits are the same as for subsidized loans.

Federal Direct Parent Loans (PLUS)
These loans are annual variable interest loans, capped at nine percent, for parents of any dependent undergraduate student. Parents may borrow annually up to the cost of attendance minus any financial aid. There is no maximum aggregate PLUS loan limit. Parent borrowers' repayment period begins on the day the loan is disbursed, with the first payment due 60 days after disbursement, for up to ten years.

Federal Perkins Loan Program
Funds are available to undergraduate and graduate students who demonstrate financial need. Loans range from $100-$1500 per semester. Funds are not available during the summer semester. Aggregate limit for undergraduate student is $20,000, the limit for graduate students is $40,000. Loans have a five percent interest rate, with no interest being charged until repayment of the principal begins - that is, nine months after the student is no longer at least a half-time student. Repayment may be deferred for an additional three years during service in the armed forces, Peace Corps, or VISTA; or for any time a student who has dropped out returns to at least half-time study. There are cancellation provisions for students who enter certain fields of teaching and for military service. These loans must be paid back to UWF or its designated billing agency.

Institutional Short-Term Loan Program (STL)
These loans are available to ease a temporary cash-flow problem. They carry a modest service charge and must be repaid during the same semester in which they are received. Limited to a maximum of $500, STLs are not considered as financial aid. Applications are available in the Financial Aid Office.