No payments are required while you're in school, but you must begin making regular monthly payments six months after leaving school, dropping below hald-time, or graduated. Unsubsidized Stafford Loans Eligibility for subsidized Stafford loans is based on need. Unsubsidized loans are available to all qualified students at participating schools, regardless of their income. Interest payments begin immediately. In The Loan Process Financial Aid Administrator Federal Government Lender Secondary Market Servicer Guarantor Credit Bureau K nowing who's who in the loan process will help you keep in touch with the right people as you work to repay your student loan.
Good communication is the key to successful loan repayment and a great credit reputation.
The financial aid administrator at the school you're planning to attend will help you determine which loans you're eligible for. This is your best source for information about your student loan and other potential financial aid. As such, loan terms, interest rates, eligibility factors, repayment criteria and other requirements are established by the federal government and overseen by U.S. Department of Education. The lender is the actual source of the money you borrow. It may be a bank, savings and loan, or credit union.