This is a federal low-interest loan, which students must begin paying back nine months after graduating or leaving college. Students may have up to ten years to repay it. Eligible students must show financial need and be either citizens of the United States or eligible non-citizens. Federal Direct Stafford Loan. The loans must be paid back beginning six months after graduation or dropping below half-time attendance.
Students have a maximum of ten years to repay the borrowed funds.
Federal Direct Unsubsidized Stafford Loan. This interest may be paid or added to the loan. This program allows independent students to borrow additional money at a variable interest rate not to exceed 8.25 percent. Repayment of the loan must begin within 60 days after the date funds are disbursed. Borrowers have ten years to repay the loan.