Federal Stafford loans - for undergraduate and graduate students
The Federal Stafford loan is the largest and most commonly used student loan program.
There are two kinds of Federal Stafford Loans: subsidized and unsubsidized. Students
may qualify for the subsidized Stafford loan if they show financial need. The federal
government pays the interest on this loan while the student is in school. Students who
do not demonstrate financial need may borrow under the unsubsidized Stafford Loan program,
in which students are responsible for all interest charges.
Review the loan terms before considering this loan program.
Benefits of the AAA Student Lending Stafford Loan
- Low fixed interest rate
- Zero origination fee
- 0.25% interest rate reduction for automatic electronic payments (ACH)
- Flexible repayment terms Standard, extended, graduated, and payment plans dependent on income available.
- Dedicated customer service line Speak directly with an experienced loan counselor. No confusing auto-attendants. No wasted time.
- Quick and easy online loan processing Apply online or over the phone. Its your choice.
- No payments while in school Make no payments on your loan for up to 6 months after you leave school or drop below half-time status.
- Interest you pay on your Stafford loan may be tax deductible.
Interest rates:
2008-2009
Undergraduate Students
Subsidized 6.0%
Unsubsidized 6.8%
Graduate Students
Subsidized and Unsubsidized 6.8%
Fees:
A 1% origination fee(waived) + up to 1% default fee.
Loan limits:
| Year in School |
Annual Limits -
Dependent Students
|
Annual Limits -
Independent Students
|
| First Year
|
$5,500 (up to $3,500 can
be subsidized) |
$9,500 (up to $3,500 can be
subsidized) |
| Second Year
|
$6,500 (up to $4,500 can be
subsidized) |
$10,500(up to $4,500 can be subsidized) |
| Third Year - Fifth Year
|
$7,500 (up to $5,500 can be
subsidized) |
$12,500(up to $5,500 can be subsidized) |
| Graduate Students |
$20,500 (up to $8,500 can be
subsidized) |
$20,500(up to $8,500 can be subsidized) |
Aggregate Loan Limits:
-
Dependent Undergraduates
-
$23,000 (subsidized)
-
$31,000 (subsidized and unsubsidized)
-
Independent Undergraduates
-
$23,000 (subsidized)
-
$57,500 (subsidized and unsubsidized)
-
Graduate Students
-
$65,500 (subsidized)
-
$138,500 (subsidized and unsubsidized)
Repayment:
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.
How to Apply:
APPLY ONLINE
Call 1-866-268-9419
Note:
Fees, interest rate reductions and borrower benefits are subject to
change or termination without prior notice.
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