The interest rate is five percent with a repayment period of up to 10 years. Interest and principal are deferred as long as the student maintains at least half-time status and is making satisfactory academic progress in an approved program.
Funds are limited.
Federal Stafford Loans are secured through a bank or credit agency. The interest rate for Federal Stafford Loans is variable. Interest and principal are deferred on Subsidized Stafford loans as long as the student maintains at least half-time status and is making satisfactory academic progress in an approved program. Only principal is deferred for Unsubsidized Staffords.