Complete information on all deferment provisions may be obtained from the lender or from the Office of Student Financial Aid. Students are employed by the university or other public or private nonprofit institutions, organizations, or agencies. When possible, jobs are related to vocational objectives. This employment is awarded as part of a financial aid package if you request consideration for employment on your application and if funds are available. This federal loan is an alternative source of assistance if you are not eligible for a subsidized Stafford Loan or if you need additional funds beyond your Stafford Loan.
Interest is charged beginning with the initial disbursement.
The interest rate is established annually but will not exceed 10 percent. The Office of Student Financial Aid coordinates all student employment on campus, including making referrals for employment that does not require financial need. If you wish to seek campus employment that does not require financial need, you should visit the Student Financial Aid Office for listings of jobs. It is best to investigate possibilities in the fall, when the largest numbers of openings are available. Also, campus employers usually will not hire students until they have tentatively determined class schedules for the term in which they are seeking employment.