The amount is deducted by the lender from the proceeds and used by the government to offset the cost of Federal Stafford Loan interest subsidies. Regulations governing Federal Stafford Loans have changed several times in recent years, and further changes are proposed. The Federal Government has created both a Subsidized and Unsubsidized Federal Stafford Loan Program. The Unsubsidized loan terms and conditions are the same as the Subsidized Stafford except that students are responsible for the interest during in-school and deferment periods. In no case will the total of a student s Subsidized or Unsubsidized Stafford Loan exceed the grade-level maximum.
PLUS loans are available to parents of dependent undergraduates only.
This loan is subject to final approval by your lender. The Division of Financial Aid works with USA Group, Inc., to provide comprehensive products and services for loans from the Federal Stafford Loan and PLUS programs. By choosing one of the five preferred lenders, you will save time and money. These lenders use USA Group for processing and servicing of loans. As a result, you will receive a 1 percent increase in your net loan amount.