The Subsidized Federal Stafford Loan is true award money for students who demonstrate financial need. No interest accrues while the student is in school. The Unsubsidized Federal Stafford Loan is for students who do not qualify for the Subsidized Stafford Loan, or who qualify for only a partial amount. Again, payment can be deferred until the student leaves school. The student does not need to demonstrate need, but interest accrues immediately.
All students are eligible.
The Federal PLUS Loan Program helps parents assist their children in paying for higher education. All parents of eligible students may apply regardless of financial need. Loan amounts are available for the full cost of education minus other financial aid. The principal loan amount and interest payments begin immediately after loan disbursement. However, many lenders such as The MES Foundation offer significant discounted rates on their federal student loan programs.