This type of loan is called a subsidized loan. If you don't have financial need remaining, you may borrow a Stafford Loan for the amount of your EFC or the annual Stafford Loan borrowing limit for your grade level, whichever is less. You will be responsible for paying all of the interest on the loan if you don't have financial need remaining. This type of loan is called an unsubsidized loan. The repayment of your Stafford Loan will begin six months after you leave school or drop below half-time attendance.
Payments are usually due monthly.
It is very important for you to remember that the Stafford Loan estimated amounts shown on your Financial Aid Award Letter indicate your maximum Stafford Loan eligibility. If you have never applied for a Stafford Loan before, please choose a lender from our Lender List . For each loan, there are two disbursements. Once received, the loan proceeds are credited to your student account, and confirmation of that transaction will be sent to you. If your lender does not participate in EFT, the disbursements will be made in checks sent to Fredonia and made co-payable to Fredonia and you.