The Federal Budget Control Act will impact graduate student borrowing beginning Fall 2012

The Budget Control Act that was signed into law on August 2, 2011 will have a very important effect on graduate students. Specifically, beginning fall 2012 there will no longer be subsidized loans available to graduate students. Graduate students will still be eligible to receive up to $20,500 annually in Stafford Loans; however any loan borrowed by a graduate student will be unsubsidized which means the loan will accrue interest while the student is in school or in deferment.

For more information, and to read a letter for UMBC’s Director of Financial Aid and Scholarships, click  here.

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