Frequently Asked Questions...

Loan Designed for: Undergraduate and Graduate student attending college at least half-time or more at an eligible institution.

Eligibility: Must be a U.S. citizen, U.S. national or permanent resident. Completed FAFSA online or via paper. Enrolled at least half-time at an eligible institution. Student will then receive Award Letter from school .

Loan Amount: Loan amount is determined by student’s independent or dependent status, as well as year in school. Please refer to Stafford Loan Limit Chart.

Interest Rate: The Federal unsubsidized Stafford loan interest rate is set at 6.8% by the Department of Education for the 2008-09 academic year. The Federal subsidized Stafford loan interest rate is set at 6.0% by the Department of Education for the 2008-09 academic year. You may qualify for an interest rate reduction off the Federal established rate through the AAA Student Lending Program.

Repayment Term: Repayment begins 6 months after student graduates, withdraws, or drops below half-time status. The student has up to 10 years to repay the loan at a minimum of $50 per month.

More information on Federal Stafford Loans

Our Education Loan Specialists are here to help you properly prepare, apply and pay for college at 1-888-422-2536.

Federal Stafford Loan interest rate is reduced by .25% if borrower elects to have monthly payments transferred electronically from a checking account. Interest rate reduction will begin when automatic payments start and will continue in effect as long as automatic payments continue without interruption. Interest rate will increase automatically by .25% if borrower does not make automatic electronic payments or if such payments are cancelled, rejected or returned for any reason. These benefits apply to the 2008-09 academic year.