Federal Stafford loans - for undergraduate and graduate students
The Federal Stafford loan is the largest and most commonly used student loan
program. It has both a subsidized and unsubsidized option depending on a
student's eligibility. 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 without financial need may borrow
under the unsubsidized Stafford loan program and are fully responsible for all
interest charges. Independent students are eligible to borrow additional
unsubsidized Stafford loans. Review the loan terms before considering this loan
program.
Interest rates:
2008-2009
Undergraduate Students
Subsidized 6.0%
Unsubsidized 6.8%
Graduate Students
Subsidized and Unsubsidized 6.8%
Fees:
A 1% origination fee + up to 1% default fee.
Borrower
Benefits:
Click
here to view AAA Student Lending's
borrower benefits.
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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