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Federal Stafford Loans |
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Federal Stafford Loans are government sponsored fixed interest loans available to students through a private lender such as a bank, credit union, or savings and loan association under the Federal Family Education Loan (FFEL) program. Interest rates for loans disbursed after July 1, 2008 are fixed at:
Undergraduate Subsidized Stafford: 6%
Undergraduate Unsubsidized Stafford: 6.8% When students are enrolled at least half-time, the federal government pays the interest accruing on a subsidized Federal Stafford Loan. Under the unsubsidized Federal Stafford Loan program, interest accrual begins at disbursement and may be paid as it accrues or capitalizes. Repayment of your loan begins at the conclusion of your six-month grace period; which occurs after you graduate, take a leave of absence, or fall below half-time status. To View a Federal Stafford Loan Lender Comparison Chart Click Here! |
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