Arcadia University participates in the Federal Direct Stafford Loan
Program. As such, Students will have their
Stafford Loans processed directly through Arcadia University and
the U.S. Department of Education.
If you have not previously borrowed a Federal Direct Stafford Loan at
Arcadia University, you must do the following:
- Complete a Federal Direct Stafford Loan MPN (Master Promissory
Note) at www.studentLoans.gov (click
on complete MPN). You must have your federal
PIN to do so.
- Complete a Federal Direct Entrance Counseling Session at www.studentLoans.gov (click
on complete Entrance Counseling).
Only matriculating students (those enrolled in a degree program) taking at lease 6 credits
a semester (6 credits over all summer sessions combined suffices) can apply for a Stafford Loan. If you drop below half-time status, (6 credits)
depending upon the point in the semester when this occurs, a portion or all of your loan funds may need to be returned.
If you are planning to use any portion of the amount indicated below to cover a prior semester balance,
you must complete the Title IV (Federal) Authorization Form for Students, available on MyArcadia under the
One-Stop Shop module.
Your eligibility for loan funds will be determined based upon your
enrollment at Arcadia University, the period of the loan, the
educational costs for this period and the anticipated financial
resources you will receive during the period of the loan. Your loan
may be subsidized or unsubsidized depending upon your financial
need, as determined by the FAFSA.
If your loan is subsidized, the
government will pay the interest on the loan during the in-school
period. If your loan is unsubsidized, the interest will accrue on
the loan while you are in school. Students may choose to pay the
interest quarterly during the in-school period, or capitalize the
interest until repayment of the loan begins. Independent students
may be eligible to borrow additional unsubsidized Stafford Loans
beyond the base amount indicated (see below) provided cost of attendance
The Stafford Loan interest rate on Unsubsidized Stafford
Loans is presently fixed at 6.8%. The interest rate on Subsidized
Stafford Loans for Undergraduate Students will be 6.8% effective July 1, 2012.
For Stafford Loans with first disbursements March 1, 2013 and after, there is a 1.05% origination fee charged on Direct Stafford Loans.
For example, net proceeds on a $5,500 Stafford Loan amount to $5,442 once the 1.05% origination fee is deducted.
The Stafford Loan is deferred
until 6 months following graduation and the repayment period is 10
years. Please borrow wisely.
The maximum 2012-13 academic year loan amounts you may request are