The Federal Unsubsidized Stafford Loans are awarded to students regardless of financial need. Interest accrues from the time the loan is disbursed until it is paid in full. Interest may be capitalized during in-school and grace periods. Repayment usually begins six months after leaving school, dropping below half-time status, or graduating from the program. Unsubsidized loans have a variable interest rate not to exceed 8.25%.

The Federal Pell Grant is an entitlement program available to all eligible dependent and independent students who have not previously earned a bachelor’s degree or its equivalent and who meet other qualifying requirements. Since this is a grant, it does not have to be repaid.