After Completing the FAFSA Application
Federal Stafford Loan
- Fixed interest rate of 6.8%
- Zero fees (you save 2%)
- No credit check is required
Federal PLUS Loan
For parents or guardians of undergraduate students. A low interest rate of 8.25% and a viable alternative if you have been declined for, or choose not to take a private student loan.
Apply for the Federal Stafford Loan. After you complete your Stafford Loan application, we contact your school for certification. Based on what was presented in your financial aid award letter, we work with the school to arrange for funds to be disbursed. Generally, Stafford Loan fund awards vary based on your academic year and financial need.
About the Federal Stafford Loan
- With a fixed interest rate as low as 6.00%, it is important to maximize your Stafford Loan award;
- No payments / No Interest until 6 months after graduation.*
Stafford Loan Interest Rates
Note: Graduate Stafford Loans (both subsidized and unsubsidized) have a fixed interest rate of 6.8% through 2013.
| Academic Year | Subsidized Rates | Unsubsidized/Graduate Rates |
|---|---|---|
| 2007-08 | 6.80% | 6.80% |
| 2008-09 | 6.00% | 6.80% |
| 2009-10 | 5.60% | 6.80% |
| 2010-11 | 4.50% | 6.80% |
| 2011-12 | 3.40% | 6.80% |
| 2012-13 | 6.80% | 6.80% |
| Current Stafford Loan interest rates in effect from 07/01/2008 to 06/30/2009 | ||
Unsubsidized loans interest payments can be deferred while in school. The US government pays interest on the subsidized portion of your Stafford Loan while you are enrolled at least half time and for a 6 month grace period after leaving school.
Disbursement of Funds
Once we receive your completed application, we send a certification to your school. Once they send that back to us, we schedule the funds to be disbursed to the school.
