<p>News & Announcements
President Bush signs new law impacting loan eligibility</p>
<p>On May 7, 2008, President Bush signed into law the Ensuring Continued Access to Student Loans Act of 2008 (H.R. 5715). Effective July 1, 2008, the law allows for undergraduate students to borrow $2000 in Unsubsidized Stafford Loan funds in addition to their base Stafford Loan funds (freshmen - $3500, sophomores - $4500, juniors/seniors - $5500).</p>
<p>Those students who apply for and are eligible for federal aid will have the additional $2000 Unsubsidized Stafford Loan included on their Financial Aid Award Letter for 2008-2009. </p>
<p>Unsubsidized Stafford Loans accrue interest while the student is in school. We recommend that students pay the interest while in school as it should be more cost-effective than allowing the interest to capitalize (accrue).</p>
<p>Questions about your eligibility should be directed to the Office of Financial Aid.</p>