This loan is available for students who are not eligible or only partially eligible for a subsidized Federal Stafford loan or for independent students borrowing at the higher loan limits. The student is responsible for paying the interest from the date the loan is disbursed. Repayment of principal begins six months after the student graduates or ceases to be enrolled on at least a half-time basis. Top of Page V Variable Interest Rate - An interest rate which changes at specified times over the life of a loan. Refers to the rate of interest on the Federal PLUS and Federal SLS Loan Programs, as well as the current interest rate for the Federal Stafford Loan Program.
Many schools conduct their own form of verification.
In addition, schools must verify the students selected through the federal processing system, following the procedures established by regulation. Loan Program - A program that allows participating schools to administer subsidized and unsubsidized Federal Stafford and Federal Direct PLUS loans directly to student and parent borrowers. Funds for these programs are provided by the federal government. Please email the Webmaster if you are having operational troubles with this site. All images and copy.