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Most financial aid awards consist of scholarships, work-study and loans. The average total student indebtedness has ranged from $20,000 to $23,000 in recent years, which is about 50% below the national average.

Federal Direct Loans

Student Loan Limits*

Year of Study
Hamilton Loan Levels
Additional Unsubsidized Loans
Maximum Eligibility
Freshman $3,500 $2,000 $5,500
Sophomore $4,500 $2,000 $6,500
Junior $5,500 $2,000 $7,500
Senior $5,500 $2,000 $7,500

*International students, including Canadian citizens, may be awarded institutional loans at the Hamilton loan levels.

Additional Federal Loan Information

  • Borrower must be a U.S. citizen or eligible non-citizen.
  • Subsidized loans do not begin accruing interest until after college graduation and for the 2023-24 academic year have a fixed interest rate of 5.50% with a 1.057% origination fee.
  • Unsubsidized loans accrue interest upon disbursement and for the 2023-24 academic year have a fixed interest rate of 5.50% with a 1.057% origination fee.
  • Repayment begins six months after the student graduates or drops below half-time enrollment.
  • Hamilton awards loans as indicated in first column of chart. Depending on eligibility, additional unsubsidized loans may be borrowed to offset the family contribution.
  • Loan proceeds will be credited directly to the student's account.
  • Additional information is available via the Direct Loan Basics for Students brochure.


Student loan application requirements:

For more information, please see financing options and loans for parents.

Contact

Office of Financial Aid

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