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Financial Aid: References

Financial Aid: Home | The Process | Types of Aid | Costs | References

Consumer Right to Know

Available at http://www.cleary.edu/consumer/

Credits per Grade Level

The following charts provide the maximum annual and lifetime loan amount that can be borrowed through the William D. Ford Federal Direct Loan program.

Dependent Student – Annual Amount Subsidized + Unsubsidized Total
Freshman (0-29 credits) $3,500  + $2,000* $5,500*
Sophomore (30-59 credits) $4,500 + $2,000* $6,500*
Junior/Senior (60+ credits) $5,500 + $2,000* $7,500*

 

Independent Student – Annual Amount Subsidized + Unsubsidized Total
Freshman (0-29 credits) $ 3,500 + $ 6000* $9,500*
Sophomore (30-59 credits) $ 4,500 +  $6000* $10,500*
Junior/ Senior (60+ credits) $ 5,500 + $ 7,000* $12,500*
Graduate Student $ 20,500 Unsubsidized only* $20,500*

*Loan limits may be subject to proration

 Student Status  Subsidized + Unsubsidized Maximum
Aggregate Loan Limits (Lifetime Loan Limits)
Dependent Undergraduate $31,000
Independent Undergraduate $57,500
Graduate Student $138,500

Enrollment Chart

How enrollment status affects Financial Aid

Enrollment Status

To participate in most aid programs, students must enroll for a minimum of six quarter credit hours per quarter in a program leading to a degree.  See enrollment classifications:

Classification Credits Per Term
Undergraduate Graduate
Full-Time 12+ credit hours 6+ credit hours
¾ Time 9-11 credit hours Not applicable
½ Time 6-8 credit hours 3-5 credit hours

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