The Federal Unsubsidized Stafford Student Loan may be offered in full to families that do not demonstrate financial need or in addition to any subsidized Stafford amounts up to the student's grade level aggregate (see above). The terms and conditions are essentially the same as for the regular Stafford Loan, but the federal government does not pay the loan interest while the student is in school. Instead, interest is accrued and capitalized (added to the principal of the loan). Loan repayment begins six months after the student graduates or drops below half-time enrollment. Borrowers have the option of paying the unsubsidized interest while in school (the first interest payment being due within 60 days after the loan is fully disbursed).

To apply, students must first submit the FAFSA, and if they meet certain eligibility criteria at the time, they will be automatically considered for the subsidized and unsubsidized program at the same time. (Review the Stafford Loan application process here.) The total amount borrowed in any year may not exceed the cost of education minus the total family contribution and minus all other financial aid received that year. Stafford Loan disbursements are co-payable to NYU and the student, and funds are applied first to any outstanding balance on the student's account.

Independent Undergraduate Students and Dependent Students Whose Parents Are Ineligible for a PLUS Loan	Additional Unsubsidized Stafford Loan Amount
Freshman or Sophomore	$4,000
Junior or Senior	$5,000

AGGREGATE LOAN LIMITS

• Undergraduate Dependent Students: $31,000 (no more than $23,000
  of which can be subsidized).
  
• Undergraduate Independent Students: $57,500 (no more than $23,000
  of which can be subsidized).
  
• Graduate and Professional Students: $138,500 (no more than $65,500
  of which can be subsidized).
  
• Graduate and Professional Students in the Health Professions: $224,000 (no more than $65,500 of which can be subsidized).
  
• The debt limit for Graduate and Professional Students includes any Stafford loans received for undergraduate study.