Stafford Loans

Federal Stafford Loans, available for undergraduate, graduate and professional students, are low-interest federal loans and are one of the most commonly used student loans. Stafford Loans are either Subsidized (the government pays the interest while you are in school and during grace and approved deferment periods) or Unsubsidized (you pay all the interest, and payments can be deferred until after you leave school).
Apply to consolidate Federal Stafford Loans  

• With the unsubsidized Stafford loan, you can defer the payments until after graduation by capitalizing the interest
• To apply for a Stafford Loan, you must submit the Free Application for Federal Student Aid (FAFSA)
• Regardless of your financial needs you must still submit the Free Application for Student Aid forms even for the unsubsidized Stafford Loan.
• Payments With the unsubsidized Stafford loan can be deffered until after graduation.
• Once an unsubsidized loan is dispersed it is you're responsible to pay the interest until the loan is paid in full. Many students add the interest to the principal instead of paying the interest as you go along.
  Once this is compounded your total loan repayment will be much higher than if you paid down some of the interest along the way.
• loan amounts will be disbursed in at least two installments, and no installment will be greater than half the amount of your loan.
• Stafford loan paybacks- There is a grace period of 6 months but generally once you graduate, fall below the half time enrollment status or leave school the clock starts.
• Grace Period for unsubsidized loan- Interest is charged but principal is not.
  Grace Period for subsidized loan- There is no interest and no principal charged

Apply to consolidate Federal Stafford Loans  

Benefits of a Stafford Loan with Student Loan

• Fixed Interest Rate of 6.8%
• Borrower Benefits that lower your interest rate up to an additional 2.0%
• The ability to defer payments up to 9 months after you leave school
• No credit check required

How much can I borrow each year?

Your status as a dependent or independent student also affects Stafford Loan eligibility and Stafford Loan limits. Review our Stafford Loan FAQ’s to see which status fits your situation.

Apply to consolidate Federal Stafford Loans  

	Dependent Undergraduate	Independent Undergraduate	Graduate or Professional Level	Graduate Medical Level
1st Year	$2,625 Subsidized	$2,625 Subsidized	$8,500 Subsidized	$8,500 Subsidized
		$4,000 Unsubsidized	$10,000 Unsubsidized	$30,000 Unsubsidized
2nd Year	$3,500 Subsidized	$3,500 Subsidized	$8,500 Subsidized	$8,500 Subsidized
		$4,000 Unsubsidized	$10,000 Unsubsidized	$30,000 Unsubsidized
3rd Year and Higher	$5,500 Subsidized	$5,500 Subsidized	$8,500 Subsidized	$8,500 Subsidized
		$10,000 Unsubsidized	$10,000 Unsubsidized	$30,000 Unsubsidized