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If a student will graduate from an undergraduate degree program after attending only one semester of the academic year are required to have their loan pro-rated for that semester. This will result in an adjusted and lower borrowing limitations for the semester.†

The studentís loans must be pro-rated according to a federally mandated formula based on enrolled credits for the term in question, and annual loan limits. If the studentís loan offer is subject to pro-ration, then the limit on the loan eligibility for that particular term is determined as follows:

The percent of credits enrolled multiplied by the annual maximum loan limits.†††††††††††

For example, an independent undergraduate student will graduate after attending only one term in the academic year and during that term is enrolled in 8 credits. In this example, the student is independent, so the annual loan limits are: subsidized $5,500.00, and unsubsidized: $7,000.00. The first step is to determine the percent of credits enrolled. This is completed by dividing the number of credits enrolled (in this example 8) by the total number of credits in an academic year (24): 8/24 = 0.33.

Now that the percentage is determined (0.33), this percentage is multiplied by the annual maximum loan limit(s):

0.33 (percent of credits enrolled) X $5,500.00 (annual subsidized limit)
= $1,815.00 maximum subsidized

0.33 (percent of credits enrolled) X $7,000.00 (annual unsubsidized limit)
= $2,310.00 maximum unsubsidized

Keep in mind that the above example is reflective of an independent student, and that dependent students have different annual loan limits: ($5,500.00 subsidized and $2,000.00 unsubsidized). Pro-ration calculations are done at the time we certify your loan, based on information you provide through the loan request process. This means that a studentís award may change from the time of loan acceptance to certification. Students are always informed of the proration via e-mail once it is processed.

Proration amounts by number of credits enrolled:


Independent Student

Dependent Student

6 Credits:

6 Credits:

Subsidized

$1,375.00

Subsidized

$1,375.00

Unsubsidized:

$1,750.00

Unsubsidized:

$500.00

7 Credits:

7 Credits:

Subsidized

$1,595.00

Subsidized

$1,595.00

Unsubsidized:

$2,030.00

Unsubsidized:

$580.00

8 Credits:

8 Credits:

Subsidized

$1,815.00

Subsidized

$1,815.00

Unsubsidized:

$2,310.00

Unsubsidized:

$660.00

9 Credits:

9 Credits:

Subsidized

$2,090.00

Subsidized

$2,090.00

Unsubsidized:

$2,660.00

Unsubsidized:

$760.00

10 Credits:

10 Credits:

Subsidized

$2,310.00

Subsidized

$2,310.00

Unsubsidized:

$2,940.00

Unsubsidized:

$840.00

11 Credits:

11 Credits:

Subsidized

$2,530.00

Subsidized

$2,530.00

Unsubsidized:

$3,220.00

Unsubsidized:

$920.00

12 Credits:

12 Credits:

Subsidized

$2,750.00

Subsidized

$2,750.00

Unsubsidized:

$3,500.00

Unsubsidized:

$1,000.00

13 Credits:

13 Credits:

Subsidized

$2,970.00

Subsidized

$2,970.00

Unsubsidized:

$3,780.00

Unsubsidized:

$1,080.00

14 Credits:

14 Credits:

Subsidized

$3,190.00

Subsidized

$3,190.00

Unsubsidized:

$4,060.00

Unsubsidized:

$1,160.00

15 Credits:

15 Credits:

Subsidized

$3,465.00

Subsidized

$3,465.00

Unsubsidized:

$4,410.00

Unsubsidized:

$1,260.00

16 Credits:

16 Credits:

Subsidized

$3,685.00

Subsidized

$3,685.00

Unsubsidized:

$4,690.00

Unsubsidized:

$1,340.00



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