Stafford loans are educational loans made to students based on need as determined by the Free Application for Federal Student Aid (FAFSA). Graduate students may be eligible to borrow up to $20,500 each academic year. Only $8,500 of this amount may be in subsidized Stafford loans. Federal Stafford loans (subsidized) are interest free and held in deferment until six months after termination of enrollment. At that time, repayment begins with a variable interest rate not to exceed 8.25 percent. Students who are not eligible to receive a subsidized Federal Stafford loan may apply for a non-subsidized (no need) Federal Stafford loan. Students receiving a non-subsidized loan are responsible for interest-only payments while in school. A student must enroll on at least a half-time basis to be eligible for a Stafford loan.

• Complete the Graduate Studies Application for Financial Aid and send it to the Office of Financial Aid.
• Stafford loans will be processed electronically.
• If this is your first Stafford loan, you will receive a Master Promissory Note (MPN) from the lender. This MPN must be signed and returned to the lender within 30 days of the date generated by the lender. If you currently have an MPN on file, you will not need to complete another one. To verify if you have an MPN for Furman on file,  contact your lender.
• All first-time Borrowers through the Federal Stafford Student Loan Program must complete entrance counseling, http://mapping-your-future.org/entrancecounseling, before their funds can be disbursed. An exit interview, http://mapping-your-future.org/exitcounseling, must be completed prior to separation from the university.

The South Carolina Student Loan Corporation has a Teacher Loan Program for Career Changers.  All applicants must have been employed for a minimum of three years.  Also, the student must have completed a baccalaureate degree at least three years ago or have worked as an instructional assistant in South Carolina public schools.  If you meet the criteria, please contact the Office of Financial Aid for an application and further details.

Please note: If the number of projected credit hours taken should change, please contact the Office of Financial Aid to determine if your financial assistance will be revised.

• All first-time borrowers through the Teachers Loan Program must complete entrance counseling (same process as described above for the Stafford). An exit interview must be completed prior to separation from the university (same process as described above for the Stafford).
• Graduate students must maintain a 3.5 GPA. A prerequisite for eligibility is the successful completion of the EEE or Praxis I Exam.

For further information, please contact the Office of Financial Aid, Administration Building, Suite 103, 864.294.2204.