The Federal Stafford Loan program enables students to borrow directly from a bank, credit union, savings and loan association or their participating lenders. The interest on the loan cannot exceed 8.25.
Students pay no interest on the loan until they begin repaying the loan.
Payments will normally begin six months after the student is no longer enrolled at least half-time. The student may be allowed up to 10 years to repay the loan. This loan requires a separate Loan Information Form, which is available in your nearest financial aid office. Students must also have at least a 2.0 GPA and be taking college-level courses to qualify. Unsubsidized Stafford Loans are also low-interest loans through lenders, with the same regulations and criteria as Subsidized loans.