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  Stafford Loan Chart
  Stafford Loan Rates
Federal law requires that education institutions accept all completed stafford applications regardless of the lender selected by the applicant.

Stafford Student Loans

about stafford loans

Government Guaranteed, Fixed Rate Student Loan
that covers all or part of your education-related expenses as certified by the institution. Available for both undergraduate and graduate level programs at different loan amounts.

Loan Amounts: varies by student grade status: see loan chart
Payments Begin: 180 days after graduation or separation
Interest Rates: fixed for the life of the student loan: see rates
No Restrictions: no credit check or co-borrower required

For Information Below:

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Quick Summary Review

summary information
  • loan amounts:
    varies by student grade level: see loan amount chart

  • interest on the loan:
    eligible loan amounts may be subsidized or unsubsidized (depending on the financial need of the student)

  • interest rates:
    fixed for the life of the student loan

  • no restrictions:
    no credit check or co-borrower required

  • no restrictions:
    no credit check or co-borrower required

  • stafford student loan processing:
    processed and funded through the college

  • stafford student loan eligibility:
    loan eligibility requirements include HS diploma, approved DOE certified school, and other eligibility requirements: link to view student eligibility

  • stafford student loan terms:
    repayment begins 180 days after graduation or separation from school
apply online

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Advantages and Disadvantages

  • No Credit Checks
    since the funds are guaranteed by the federal government, your credit report is not used in qualifying you for the loan: see qualification parameters

  • Low Interest
    federal student loans are fixed rate loans that remain fixed for the entire term of the loan; current rates are lower than most other financing options: view interest rates

  • Flexible Repayment Plans
    student loan payments do not have to be repaid until 180 days after you leave or graduate from school. The federal government offers flexible repayment plans that can fit your budget. You can even consolidate your federal loans into one, low repayment plan: view our affiliated student loan consolidation center for information
  • Low Amount Limits
    the biggest disadvantage of stafford loans is the limited loan amounts — only $3,500 for first-year students. Very small amounts considering the cost of education: see loan limits

  • Requires Federal Filings
    you must file the FAFSA form with the federal government in order to apply for stafford loans. The FAFSA filing is used by colleges to determine your financial aid award: see FAFSA file

  • Multiple Borrowings
    you have to file and apply for a loan each academic year.
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