Applying for Federal Loans

To apply for any Federal Loans at UNC Asheville, you must first complete a Free Application for Federal Student Aid (FAFSA). Based on the information provided by the FAFSA, the Office of Financial Aid will award you the loans for which you qualify.

Federal Stafford Loans

Federal Subsidized Stafford Loan
Awarded on the basis of financial need as determined by the FAFSA. Students must be enrolled in at least 6 credit hours. The Federal government pays the borrower's accrued interest while the student is enrolled at least half-time, thereby "subsidizing" these loans. Repayment will be begin 6 months after the student is no longer registered at least 6 hours.

Federal Unsubsidized Stafford Loan
Students must file a FAFSA and be enrolled in at least 6 credit hours. The borrower is responsible for accrued interest throughout the life of the loan. Repayment will be begin 6 months after the student is no longer registered at least 6 hours.

Choosing a Lender

To assist you in choosing a lender, UNC Asheville has developed a list of recommended lenders that we believe are committed to providing benefits and quality service to our students and families.

The lenders on this list have been carefully selected using a process that evaluated criteria considered important for meeting the borrowing needs of students and their families. To view the evaluation process used to select the lenders below, click here.

This lender list has been compiled only as a guide. You are NOT required to use any lender on this list. You may and should do your own research and select the lender that best meets your borrowing needs.

UNC Asheville's Federal Stafford Loan Preferred Lender List

2008-2009 Federal Stafford Lender Selection Form

Annual Loan Limits

Dependent Undergraduates
Freshmen (0-29 credit hours): $5,500
Sophomore (30-59 credit hours): $6,500
Junior (60-89 credit hours): $7,500
Senior (90+ credit hours): $7,500

The maximum total debt from Stafford loans that a dependent undergraduate may borrow is $31,000 (no more than $23,000 of which can be subsidized).

Independent Undergraduates
(Also for dependent undergraduates whose parents are denied a PLUS Loan.)
Freshmen (0-29 credit hours): $9,500 (No more than $3,500 of this amount may be subsidized)
Sophomore (30-59 credit hours): $9,500 (No more than $4,500 of this amount may be subsidized)
Junior (60-89 credit hours): $12,500 (No more than $5,500 of this amount may be subsidized)
Senior (90+ credit hours): $12,500 (No more than $5,500 of this amount may be subsidized)

The maximum total debt from Stafford loans that an independent undergraduate may borrow is $57,500 (No more than $23,000 of of which can be subsidized).

MLA Students
Each Academic Year: $20,500 (No more than $8,500 of this amount may be subsidized)

The maximum total debt from Stafford Loans that a MLA student may borrow is $138,500 (No more than $65,500 of which can be subsidized).

Federal PLUS Loan

Federal PLUS Loan
Available to parents of undergraduate dependent students who are enrolled in at least 6 credit hours. You must have a FAFSA on file to be eligible to apply for a PLUS Loan.

UNC Asheville's Federal PLUS Loan Preferred Lender List

2008-2009 Federal Direct PLUS Loan Application

Federal PLUS Loan Statement of Understanding

Entrance Counseling

Entrance counseling is required for all first time borrowers.

If your loan is through Direct Loan, please complete your Entrance Counseling here.
If your loan is through any other lenders, please complete your Entrance Counseling through Mapping Your Future.

Master Promissory Notes (MPN)

Master Promissory Notes must be signed if you are a first time borrower or have not previously signed a Master Promissory Note with your chosen lender.

If your lender is Direct Loan, then you may sign your Direct Loan MPN here.
For all other FFELP Loans, your lender will contact you about how to sign your Master Promissory Note.

Alternative Education Loans

Alternative Education Loans may be necessary for students who do not qualify for Stafford loans or need additional funds to cover their cost of attendance. These loans are private loans offered by individual lenders that require the borrower to have good credit or to obtain a co-signer with good credit. Be advised that the interest rates are variable from lender to lender and are higher than those of Stafford loans.

The Office of Financial Aid cannot certify any Alternative Education Loans until the student is enrolled in classes. In addition, the Office of Financial Aid will not certify any amount that takes the student over their cost of attendance.

Other Resources

National Student Loan Data System
CFNC Loan Calculator
Chase Loan Calculator
Citi Bank Loan Calculator
Direct Lending Loan Calculators
Wachovia Loan Calculator
Repaying Your Student Loans