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Federal Direct Stafford Loans

The Direct Loan program offers many benefits to students and parent borrowers, including:

  • Consistent access to loan funds directly from the U.S. Department of Education
  • Competitive rates and repayment options available to all borrowers
  • Simple application process
  • Quick receipt of funds
  • Excellent customer service

This loan may be subsidized, unsubsidized, or a combination of both. With a subsidized loan, which is awarded based on financial need, the federal government pays interest that accrues while you are enrolled at least half-time. The unsubsidized loan is not based on need; interest that accrues while in school must either be paid monthly or deferred and capitalized (added to the original loan balance). Loan eligibility is determined by the Financial Aid Office.

Interest rates for Federal Direct Stafford Loans are listed below. There is a 6-month grace period prior to repayment following graduation, withdrawal, or a drop below half-time status; however, interest will accrue during this period*. In order to minimize borrowing, students and families should use other sources of financing before borrowing and borrow only the minimum amount needed. Loan funds are disbursed directly to BCC in equal amounts over each term of enrollment for the academic year. *The interest subsidy during grace period was eliminated for loans paid out after June 30, 2012. A student receives one six-month grace period. Once expired, loans go into repayment immediately upon graduation or dropping below six credits of enrollment.

Origination Fee
Loan origination fee is 1.051% for 2013-14; 1.073% for 2014-15

Interest Rate
Interest rates ;are variable and may change annually.

  2013-14 Rates  2014-15 Rates 
Subsidized 3.86% 4.66%
Unsubsidized   3.86% 4.66%
Capped at 8.25%


Loan limits
Independent students are allowed to borrow more than dependent undergraduate students. 

NEW as of July 1, 2013: Loan limits for new borrowers - Download the Subsidized Loan Information Packet for more information.

Annual Stafford Loan Limits
Year 1 $5,500 (dependent)
$9,500 (independent)
Subsidized maximum $3,500
Year 2 $6,500 (dependent)
$10,500 (independent)
Subsidized maximum $4,500
Year 3 & 4 $7,500 per year (dependent)
$12,500 per year (independent)
Subsidized maximum $5,500 annually
Graduate Student $20,500 per year
Unsubsidized Loan only (as of 7/1/12)



Aggregate limits

  • For undergraduate students:
    Dependent—$31,000 (up to $23,000 may be in subsidized Stafford loans)
    Independent—$57,500 (up to $23,000 may be in subsidized Stafford loans)
  • For graduate and professional students: 
    $138,500 (up to $65,500 may be in subsidized Stafford loans)

Contact Details

Financial Aid
Fall River Campus
Phone: 508.678.2811, ext. 2515
Location: G120
M-F 8 am – 5 pm

Event Calendar

Date: Mon, 22 Dec 2014 05:00:00 GMT

Book Advances (12/22/2014 - 2/12/2015)


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Date: Mon, 5 Jan 2015 05:00:00 GMT

Financial Aid Refund Payments for Fall Semester (1/5/2015)


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Date: Mon, 5 Jan 2015 20:45:00 GMT

Fall River - Monday, January 5, 2015-15263 (1/5/2015)


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Date: Tue, 6 Jan 2015 13:45:00 GMT

New Bedford- Tuesday, January 6, 2015- 15287 (1/6/2015)


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