This loan provides funding to help students pay some of their own costs. The loan is made to you, the student, and you are responsible for repayment of this debt.
Eligibility is contingent upon completion and submission of appropriate application documents.
The Stafford Loan carries a variable interest rate, set annually. Repayment of principal begins six months after you cease to be a student enrolled on at least a half-time basis. There are two types of Stafford Loan. If you demonstrate sufficient financial need, you will qualify for the Subsidized Stafford Loan. The federal government pays the interest on this loan while you remain at least a half-time student.