Federal Direct Stafford Loan

In order to determine your eligibility for a Direct Stafford Loan, you will need to complete a Free Application for Federal Student Aid (FAFSA).

A subsidized loan is awarded on the basis of financial need (determined by your FAFSA results). You won't be charged any interest while enrolled at least half time. The federal government "subsidizes" the interest during these periods.

  • Loan amounts are up to $3,500 for freshmen, $4,500 for sophomores, and $5,500 for juniors and seniors.

  • Fixed interest rate of 4.66% for loans made during the 2014-2015 academic year.
  • No interest accrues while student is enrolled at least half-time.
  • Loan is repaid within 10 years with payments no less than $50 per month when standard repayment plan used.
  • Repayment is deferred until six months after a student graduates, withdraws or drops below half-time status.


To apply for a Direct Stafford loan: 

If you have borrowed Direct Stafford Loans while attending North Central University, you are required to complete exit counseling when:

  • You graduate from North Central University.
  • You withdraw or decide not to return to North Central University.
  • You take fewer than 6 credits during a regular fall or spring term.