Based on annual review of need. Application required each year. Payment of principal and interest accrual begins six months after the student ceases to be enrolled at least half-time. Application required annually. Eligibility based on independent status or dependent student who is not eligible for a Subsidized Stafford loan.
Borrowers are responsible for interest while they are enrolled and during repayment period.
Interest payments can be deferred while a student is in school and during their grace period. Payment of principal and interest begins six months after the student ceases to be enrolled at least half-time. Interest rates and loan fees are the same as for the Subsidized Stafford loan. Check is made co-payable to the borrower and school. Interest is variable.