Interest on subsidized Federal Stafford Loans is paid by the federal government until six months after the borrower graduates, leaves the institution, or reduces enrollment to less than half time. Interest on unsubsidized Federal Stafford Loans accrues from the time of disbursement, and may be paid on a regular basis, or deferred during periods of enrollment on at least a half time basis. Repayment on both subsidized and unsubsidized Federal Stafford Loans begins 6 months after the borrower graduates, leaves the institution, or reduces enrollment to less than half time. Borrowers have up to ten years to repay their loans, excluding periods of deferment. Deferments may be requested in certain cases when a borrower returns to school, is unemployed, or meets one of several other conditions.
Many lenders offer repayment incentive programs for students who make scheduled payments on time.
These range from cash back programs to interest rate reductions to a combination of these. The School of Law participates in several private and alternative loan programs which allow students to borrow funds in excess of the federal loan amounts if they have remaining eligibility. These loans are not based on need, but do require a credit check. Some of these loans have substantial origination and insurance fees and variable interest rates. A co-signer may be required or may be used to obtain a lower fee charge.