Subsidized Student Loan

This is a need-based loan available to undergraduate students; the federal government subsidizes (pays) the interest on the loan while the student is attending school at least half-time. 

The loan limit for freshmen is $3,500; sophomores may borrow $4,500; and juniors and seniors may borrow $5,500 per year. 

The interest rate is 4.29 percent in 2015–16. At the time of this writing, the 2016-17 interest rate is not available.