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Financial Aid
STUDENT
LOANS: Federal Stafford Loans
Federal
Stafford Loans for a DEPENDENT student are
a need based federally guaranteed student loan.
The interest is paid by the Department of Education
while you’re still in school. This is
known as a "Subsidized" Stafford loan.
Repayment begins six months after you graduate
or drop below half-time status.
Federal Stafford Loans for an INDEPENDENT
student are a federally guaranteed student loan
based on preference to borrower regardless of
need. The student is responsible for interest
which accrues while in school. This is referred
to as an "Un-Subsidized" loan. Loan
repayment begins six months after you graduate
or drop below half-time status.
The term Need refers to an individual’s
own situation determined in the Student Aid
Report (SAR), which you will get after filing
the FAFSA.
Yearly limits on Federal Stafford Loans:
- Dependent
Freshmen : $2,625
- Dependent
Sophomore : $3,500
- Dependent
Junior & Senior : $5,500
- Independent
Freshman : $6,625
- Independent
Sophomore : $7,500
- Independent
Junior & Senior : $10,500
- Independent
Graduate or Professional : $18,500
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With Federal Stafford Loans, the money is sent
to your school’s controllers office, where
you sign it over to the school and they count
it toward your tuition, balance, etc. Applying
online is the quickest way to secure your funds.
Education
Loans - Thinking about your college future,
find out what you need to know when it comes
to education loans.
SPOTLIGHT LENDER: iStudentLoan
STAFFORD – Providing secure Federal Stafford
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