Federal Stafford loans require students be enrolled at least half-time, which is defined as six (6) hours for an undergraduate student and three (3) hours for a graduate student.  There are two types of Stafford Loans - subsidized and unsubsidized.

Subsidized Federal Stafford Loans are variable-rate loans, based on financial need. The federal government pays the interest on the loan while the student is in school and during the six (6) month period following graduation or during periods of deferment.

Unsubsidized Federal Stafford loans are variable-rate loans that are not based on financial need. These loans are designed for students who do not quailify for the subsidized loan or for students whose parents have been denied a Federal Plus loan. Interest is charged from the time the loan is disbursed until it is paid in full. The student has the option to allow the interest to accumulate and capitalize while in school. However, Furman encourages all students to pay the interest while in school.

• Exit Counseling - If a student borrowed a Federal Stafford Loan and graduates, transfers from Furman to another school, drops below the half-time enrollment requirement, or leaves the University for any reason, exit counseling is required. There are on-campus sessions offered during the summer graduation period (students are notified), but the easiest way to complete this requirement is online at http://mapping-your-future.org/exitcounseling.

Federal Parent Loan for Undergraduate Students (PLUS) - Parents of dependent undergraduate students may be eligible to borrow through the Federal Parent Loan for Undergraduate Students (PLUS).

• South Carolina residency is not a requirement.
• The applicant can borrow up to the annual cost of attending Furman, minus any other aid for which the student is eligible.
• The parent can apply for the PLUS loan by contacting any bank or commercial lender qualified to offer this type of loan.