No repayment is required while the student is in school full time, or during grace or deferment periods. Monthly payments generally begin six months after the student graduates, drops below half time, or withdraws from school. Federal Unsubsidized Stafford Loans. With the exception of demonstrating financial need, borrowers must meet all eligibility criteria of the subsidized Stafford program. Family income will not affect loan eligibility or disqualify borrowers from obtain-ing an unsubsidized loan.
Borrowers pay a combined origination and insurance premium fee.
The federal government does not pay interest on the loan while borrowers are enrolled in school or in deferment. Generally, repayment begins six months after the borrower ceases to be enrolled on at least a half-time basis. These loans are available to parents of dependent students. They are processed through the Office of Financial Aid, and funds are borrowed from participating com-mercial lenders. The University requires a com-pleted financial aid application for Federal PLUS consideration.