The federal government pays the interest while the student borrower is enrolled at least half-time. Repayment begins six months after the student ceases to be enrolled at least half-time. Depending on the amount borrowed, the repayment term can extend up to ten years. Unsubsidized Federal Stafford Loans are available to students who do not qualify on the basis of need for the Subsidized Stafford Loan. Total loan limits for both the subsidized and unsubsidized programs, either singularly or combined, are the same.
Annual interest is the same as the subsidized loan.
Payment of interest begins immediately, but may be capitalized and paid during the repayment period. Repayment of the Unsubsidized Federal Stafford Loan begins six months after the student borrower ceases to be enrolled at least half-time. Simmons Education Loans are offered to students as part of their financial aid award. The features of this loan are intended to mirror the Federal Stafford loan program. This loan is made directly to the student who must sign the promissory note when they come to campus.