A loan must be repaid. It is available to qualified undergraduates and graduates. For a student who qualifies for a subsidized Stafford Loan, the government pays the interest on the loan while the student is attending school. A student who qualifies for an unsubsidized Stafford Loan is responsible for paying the interest on the loan while in school. Both the subsidized and unsubsidized Stafford Loan go into repayment six months after the student drops below half-time attendance.
Loan amounts vary depending on grade level and enrollment status.
It is available to parents with good credit who need to borrow money to supplement limited financial aid received by a student. Repayment of this loan begins sixty days after disbursement.