Previous borrowers retain their original interest rates. In 1999-2000 the variable rate was 6.32 percent. Loans are made through a bank, savings and loan, or credit union. Borrowers may receive both subsidized and unsubsidized Federal Stafford Loans. Before applying for a SELF loan, the student must apply for federal financial aid.
Student makes quarterly interest payments.
Interest was 6.5 percent in early 2000. Students demonstrating financial need. Students usually work eight to 12 hours per week in this federal program. Financial Aid Criteria Students are awarded financial aid on the assumption that they will progress through the sequence of courses in their chosen major, with their assigned cohort group. Students who deviate from this path may become ineligible for part or all of the financial aid programs.