Take Note

R. Preston Woodruff Scholarship

Over his 27-year tenure at ASLA, R. Preston Woodruff, Jr. instilled the importance of serving Arkansas families by providing access to higher education.

ASLA provides several $1000 scholarships each year to incoming and current college students in Arkansas. Each year, one of the scholarships drawn will be renewable for up to 4 years!

Don’t Ignore Debt – Repayment Options

Borrowers have a variety of repayment options to discuss with their lenders to help manage student loan debt and prevent loans going into default. We are here to help you.

  • Visit Repayment Options for more information and links to forms.
  • Call 800-443-6030 to speak to one of our Client Relations Specialists who can assist you with understanding your options.
  • Send us an email at if you would like for us to contact you.

Federal Direct Loans: 2013 – 2014 Interest Rates

Loan Type Fixed Interest Rate
Subsidized Stafford
Undergraduate Students
4.66%
Unsubsidized Stafford
Undergraduate Students
4.66%
Unsubsidized Stafford
Graduate and Professional Students
6.21%
Parent PLUS
Graduate PLUS
7.21%

This table is an overview. Details regarding loan interest rates, how rates are determined and additional information are available at Interest Rates for Federal Loans.

Federal Direct Loans: Annual Loan Limits

First Year
Dependent Undergraduate

$5,500
(max of which $4,500 may be in
subsidized loans)

Independent Undergraduate1 $9,5001
(max of which $10,500 may be in
subsidized loans)
Second Year
Dependent Undergraduate

$6,500
(max of which $4,500 may be in
subsidized loans)

 Independent Undergraduate1 $10,5001
(max of which $10,500 may be in
subsidized loans)
Third  and Beyond ~ Each Year
Dependent Undergraduate

$7,500
(max of which $4,500 may be in
subsidized loans)

 Independent Undergraduate1 $12,5001
(max of which $10,500 may be in
subsidized loans)
Professional & Graduate Students
Subsidized Stafford

No longer eligible after July 1, 2012

Unsubsidized Stafford $20,500
Parent PLUS & GradPLUS Loans (Parents of Dependent undergraduate students and graduate or professional students borrowing for themselves.)
Cost of education less any other financial aid awarded

This table is an overview of Federal Direct Loan Annual Limits. Visit Federal Direct Loans for more information.
1 Includes dependent students whose parents cannot borrow a PLUS loan.

 

2014 - 2015 How to Pay For College BookletNEW

Each year ASLA provides the How to Pay for College Booklet through the Fund My Future College Planning Program.  This informative booklet is made available to high school counselors, college financial aid offices, community groups raising awareness for college access as well as parents and students across Arkansas.  There is never a charge for these books and resources. 

If you don't want to wait to have your copies shipped to you , we offer this book online in a digital format.