Stafford Loans
Through the FFELP program, the Department of Education makes Stafford Loans available to you with funds provided by lenders (as opposed to your school or the Department of Education) which are backed by the Federal Government. Stafford Loans are awarded based on need and not credit which make them available to students. Issuing Stafford Loans can involve up to a 3% fee that will be taken out of the awarded loan amount. Benefits include:
- Subsidized loan options for qualified borrowers.
- Low interest rates (loans issued in the 2006-07 school year are a fixed 6.8%).
- Interest on Stafford Loans may be tax deductible.
- Qualify for In School Deferment.
- No credit or collateral required to qualify.
- Repayment options include consolidation to lower your interest and payments.
Limits for Stafford Loans have been increased:
| Level of Education |
Dependent |
Independent Student |
| Freshman |
$2,625.00 |
$6,625.00 |
| Sophomore |
$3,500.00 |
$7,500.00 |
| Junior & Senior |
$5,500.00 |
$10,500.00 |
Apply Online for a Stafford Loan
or call toll free to discuss your options:
800-964-0642
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