These loans are available to students who demonstrate financial need. The Federal government pays all of the interest on these loans until six months after the student graduates or stops attending college at least half time (6 credits). First year undergraduate students are able to borrow a maximum of $3,500 in Subsidized Direct Loans annually and second year undergraduate students are able to borrow a maximum of $4,500 in Subsidized Direct Loans annually.
These loans are available to students eligible for subsidized loans but also available to students that may not be eligible for subsidized loans. The student is responsible for paying all the interest on Unsubsidized Stafford Loans. Dependent students may be eligible to borrow $2,000 in unsubsidized loans annually and independent student may be eligible to borrow $6,000 in unsubsidized loans annually.
You need to submit a complete ICC Federal Direct Loan Acceptance packet. In order to submit the loan packet you must be enrolled in a minimum of 6 credit hours.