The Federal Stafford loans are the most affordable way to finance your college education with low interest rates and postponement of payments until you are out of school. There are many advantages to taking a Stafford loan.

Advantages of a Stafford Loan:

• Low fixed interest rate - New Stafford loans disbursed at a fixed rate of 6.8%
• No prepayment penalties
• Interest may be tax deductible
• Loan consolidation option to lower your monthly payments

Types of Stafford Loans: Subsidized

• Subsidized Stafford loan is a need based loan
• Federal government pays the interest on these loans while you are in school and during your grace period
• Must complete the FAFSA form and receive your SAR to determine loan eligibility (see link below)

Unsubsidized

• Unsubsidized Stafford loan is not need based, all students are eligible for this loan
• Federal government does not pay the interest on these loans, although the student can defer payment on this loan until six months after leaving school

If you need to complete the FAFSA form, please go to www.FAFSA.ed.gov. If you need any assistance, please call our Loan Specialists at 800-454-1718 and we will answer any questions you might have.

Simple Qualifications:

• U.S. citizen or permanent resident
• Full-time or part-time student at an undergraduate or graduate school

Interest Rate:

• The Stafford loan interest rate for new loans first disbursed after July 1, 2006 is a fixed rate of 6.8%. The same rates apply to the in-school, grace and repayment periods.

Fees

• Stafford loans are subject to a 3% origination fee and a 1% guarantee fee which are deducted from the original loan amount. Some or all of these fees may be waived by the lender.