Federal Methodology became effective in 1995 and applies to all need-based federal financial aid programs. A program beyond residency which provides sufficient financial support to allow for at least six months of full-time study or training. The total amount of financial aid a student receives. This is a record, maintained by each school you attend, of the student aid you received while in school. The time during which loan payments are postponed and the borrower incurs no loss, penalty, or further obligation.
Some loans enter repayment immediately following the borrower's graduation.
Others have a grace period so that repayment does not begin until several months after graduation. A payment schedule allowing for various monthly payment amounts over the life of a loan based on periodic appraisal of income or passage of time. Total salary or income before deductions. The organization that administers the Federal Stafford Student Loan Program in your state. The federal government sets loan limits and interest rates, but each state is free to set its own loan limitations within federal guidelines.