The federal government will pay the interest on the loan until the borrower enters repayment. The Federal Direct Unsubsidized Stafford Loan is based on the student's cost of attendance less other aid received. It is a variable interest loan and is not based on need. The borrower is responsible for payment of the interest on this loan. The Federal Direct Plus Loan is available to parents of dependent students to help meet educational costs.
Applicants are subject to a review of their credit history.
This is a variable interest loan. The loan amount is based on the student's cost of attendance less other financial aid received. Repayment of this loan generally begins sixty days after the final loan disbursement is made, unless deferment provisions apply. Borrower Rights and Responsibilities - A student who signs a promissory note and receives funds through the federal loan programs is required to repay the debt, even if the student does not complete the education or is dissatisfied with the quality of education received. The promissory note is a binding contract.