Stafford Loan

The Stafford loan is usually the best option for students requiring additional funding for school once grants, scholarships and other free aid is awarded. Federal Stafford Loans are made directly to the student. Interest rates on Stafford loans are kept low because they are guaranteed by the government. Stafford loans are low-cost federal loans which are available to graduate students at a fixed interest rate of 6.8% for the life of the loan.

Subsidized Student Loans: The government pays the accrued interest on the loan while the student is still in school (at least a half-time student), during the grace period and throughout approved deferment periods. Eligibility for this type of loan is based on financial need.

Unsubsidized Student Loans: The student is responsible for the interest accrued on the loan. Repayment will begin 6 months after the student graduates or enrolls in school less than half-time. Financial need or income levels are not factors for eligibility.

Benefits:

• 0.25% ACH: Interest rate is reduced by 0.25% if automatic payments are made directly from your bank account.
• 24/7 Account Access

Stafford Loan details for the 2008-09 academic year:

Loan Type	Interest Rate	Fees
Stafford Loan	6.8%	0% Federal Default Fee* .5% Origination Fee

Loan Limits

Medical/Dental/Veterinary Students:
$8,500 Subsidized Stafford
$32,000 Unsubsidized Stafford

Law/MBA/Other Graduate Students:
$8,500 Subsidized Stafford
$12,000 Unsubsidized Stafford