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Federal Perkins Loan
The Federal Perkins Loan is offered directly by GW with funds provided by the federal government. To qualify for the Federal Perkins Loan, a student must demonstrate financial need (as determined by the information submitted on the Profile and FAFSA). Currently, the maximum Federal Perkins loan amount a student can qualify for at GW is no more than $2,200. The student will be notified if they are eligible for the Perkins Loan on their Award Notification.
Federal Stafford Loan
The Federal Stafford Loan is a guaranteed loan program through the federal government. Depending on a family's financial situation, a student's Federal Stafford Loan will be either subsidized or unsubsidized. Interest accruing on a subsidized Stafford Loan will be paid by the government if the student is enrolled at least half-time. Interest accruing on an unsubsidized Stafford Loan is the responsibility of the student. All students who wish to receive a Stafford Loan must first complete the FAFSA. Stafford Loan amounts increase each year as the student successfully matriculates.
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Grade
Level
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Maximum Subsidized
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Maximum Unsubsidized
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Total
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Freshmen
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$3,500
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$2,000
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$5,500
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Sophomore
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$4,500
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$2,000
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$6,500
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Junior
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$5,500
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$2,000
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$7,500
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Senior
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$5,500
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$2,000
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$7,500
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An additional amount of Unsubsidized Stafford Loan is made available
to an independent undergraduate student or dependent student whose parent is
ineligible for a PLUS Loan, resulting in the following eligibility limits.
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Grade
Level
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Maximum Subsidized
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Maximum Unsubsidized
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Total
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Freshmen
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$3,500
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$6,000
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$9,500
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Sophomore
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$4,500
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$6,000
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$10,500
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Junior
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$5,500
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$7,000
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$12,500
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Senior
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$5,500
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$7,000
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$12,500
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Students who accept a Federal Stafford Loan referral will be mailed an application packet in June. The mailing will include a Federal Stafford Loan Data Form, instructions on the application procedure and information from our preferred lenders for the Federal Stafford Loan program. Refer to the Choosing your Lender link on the left for helpful information refarding lender selection for the Federal Stafford Loan.
Apply for a Stafford Loan
Federal PLUS Loan
The Federal PLUS Loan is a loan for parents of dependent undergraduate students. The PLUS Loan allows a parent to borrow up to the cost of attendance less any financial aid. The Office of Student Financial Assistance will send the necessary application materials to the parents of all admitted undergraduate students in June, shortly after the Admissions deposit deadline.
The mailing will include a
PLUS Loan Data Form and instructions on the application procedure. Refer to the Choosing your Lender link on the left for helpful information regarding lender selection for the PLUS loan.
Apply for a PLUS Loan
Alternative Loan Options
Alternative loans are non-federal, private credit based loan products offered by various lending institutions. The loans generally require school certification of enrollment and eligibility information, and are in the student's name. They can be used like a PLUS loan to borrow up to the cost of attendance less any financial aid. Refer to the Choosing your lender link on the left for helpful information regarding product selection for an alternative loan.
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