Base Loan Concept
The financial need of students who qualify for institutional aid is covered first with a combination of institutional and federal loans, which is called the base loan. The base loan amounts are determined annually based upon anticipated institutional resources and the projected aggregate need of financial aid applicants. Applicants whose demonstrated need exceeds the base loan amount for their class year receive Brown scholarship funds to cover their remaining need.
Refer to the chart below for the base loan amounts for each class year as well as for resident students (students living in apartments) and commuter students (students commuting from their parents' home).
Please note that the Federal Direct Stafford Loan and all Brown loans are interest-free during the in-school period and for varying periods of time after graduation.
Base Loan Amounts, 2008-2009
| Resident Budget: | MD2012 | MD2011 | MD2010 | MD2009 |
|---|---|---|---|---|
Subsidized Stafford Loan |
$8,500 |
$8,500 |
$8,500 |
$8,500 |
Unsubsidized Stafford Loan |
$11,400 |
$11,900 |
$16,000 |
$17,400 |
Brown Loan(s) |
$8,300 |
$8,300 |
$5,300 |
$5,300 |
Total Base Loan: |
$28,200 |
$28,700 |
$29,800 |
$31,200 |
| Commuter Budget: | ||||
Subsidized Stafford Loan |
$8,500 |
$8,500 |
$8,500 |
$8,500 |
Unsubsidized Stafford Loan |
$11,400 |
$11,900 |
$12,200 |
$13,600 |
Brown Loan(s) |
$4,600 |
$4,600 |
$4,500 |
$4,500 |
Total Base Loan: |
$24,500 |
$25,000 |
$25,200 |
$26,600 |