The Office of Student Financial Services (OSFS) assists U.S. citizens and permanent residents whose personal and family resources are not adequate to cover the expenses involved in attending the University of Wisconsin-Madison. Eligibility for Federal Work-Study and the Stafford Loan is based on financial need as calculated by the OSFS. Students who do not receive the amount they need through either of these programs can apply for the Federal Unsubsidized Stafford Loan. There is no deadline for federal financial aid; however, students should apply as early as possible to ensure a timely response by OSFS.

Application for Work-Study and Stafford Loans

Applicants who check "yes" to loans and work-study on the application for admission are automatically sent information by OSFS. Only U.S. citizens and permanent residents are eligible. To apply for Federal Work-Study and Federal Stafford Loans you must submit to the OSFS a Financial Aid Application (FAA) and a copy of your most recent federal income tax return. You must also submit a Free Application for Federal Student Aid (FAFSA) to the federal processor.

Stafford Loans

  1. Subsidized: Graduate students may borrow up to $8,500 per year through the Federal Subsidized Stafford Loan up to a cumulative maximum of $88,500 for undergraduate and graduate years combined. The interest rate is variable and set annually with a cap of 8.25% for new borrowers. Neither interest nor principal payments begin until the borrower leaves school or is no longer enrolled at least half-time.
  2. Unsubsidized: The Federal Unsubsidized Stafford Loan has the same terms and conditions as the Federal Stafford Loan except that the borrower is responsible for interest that accrues while the student is in school. Graduate students may borrow up to $18,500 per year, less any subsidized Stafford Loan. Eligibility is not based on financial need, but the loan amount cannot exceed the difference between the student budget and other aid.