You must maintain satisfactory progress to renew your loan. Applications and further information are available at your local bank, credit union, lending institution, etc. Sample payment plans for Federal Stafford Loans are available at the Financial Aid Office. The Unsubsidized Federal Stafford Loan provides students, who do not qualify for all or part of the Federal Stafford Loan due to need restrictions, the opportunity to borrow a low interest loan. The distinguishing feature of the Unsubsidized Federal Stafford Loan is that the interest must be paid by the student, on a quarterly basis, while the student is enrolled in school.
Principal payments start six months after the student leaves school or drops below half-time status.
Application procedures are identical to those for a Federal Stafford Loan. Most libraries have books and brochures which list hundreds of scholarships and loan programs. Many of these awards are given to students meeting special conditions such as membership in an ethnic group or religion, academic major, employment or labor union association or student fraternal association. In addition, a variety of loans, employment opportunities and other forms of financial assistance are available to veterans. If you are a dependent of a veteran who died or is permanently disabled as a result of service in the Armed Services, or if you are serving in the services, you may be eligible for educational benefits.