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Federal Stafford        

Federal Subsidized Stafford Loan

Federal Subsidized Stafford Loans are loans with a variable interest rate of up to 8.25% made to students attending school at least half-time. Students must complete the Free Application for Federal Student Aid (FAFSA) each school year to determine eligibility.

This loan does not accrue interest as long as the student is continually enrolled in 6 or more credit hours per semester. Loans are made by a lender such as a bank or credit union. These loans are insured by the guarantee agency in each state and reinsured by the Federal Government. You must repay this loan.

Federal Unsubsidized Stafford Loan

Eligible students can receive the Federal Unsubsidized Stafford Loan regardless of family income. Students must complete the Free Application for Federal Student Aid (FAFSA) each school year to determine eligibility. The term unsubsidized means that interest does accrue while you are enrolled. These loans have a variable interest rate of up to 8.25%. Interest begins accumulating immediately. A number of repayment options are available. You must repay this loan.

Stafford Loan Maximums

(Many students do not qualify for the maximum loan amount. The maximum is the most a student might be able to borrow. Many students are eligible for an amount less than the maximum.)

You must indicate the lender of your choice in Items 7 & 8 of the Master Promissory Note. Lenders offer different services in processing student loans. Some lenders sell their student loans to other lenders or secondary markets. In selecting a lender, it will be helpful for you to inquire about the services offered to determine which lender is best suited to your needs. We recommend that you select the same lender for each loan you borrow to avoid problems when it comes time to repay your loans. If you have different lenders, it is YOUR responsibility to keep each lender aware of all loans.