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Federal Stafford Loans


Receiving a college education may be the single most important accomplishment that one may achieve in their entire life time.

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Are you needing to apply for one of the Federal Stafford Loans? The are two types of Federal Stafford Loans available to both undergraduate and graduate students. Federal Stafford Loans are supported by either the Federal Family Education Loan Program, (FFELP), or the William D. Ford, Federal Direct Student Loan Program, (FDSLP). Some schools may elect to provide both programs, though they are not required to do so. In both cases, the eligibility requirements are identical. There are however some differences regarding loan repayment.

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The two types of Federal Stafford Loans which you may be eligible for are:

Subsidized Stafford Loans: Subsidized Stafford Loans give students an opportunity to attain college funding at low interest rates, without having to pay the interest until six months after being less than half enrolled in school.

Unsubsidized Stafford Loans: Unsubsidized Stafford Loans are similar to that of subsidized Stafford loans except that the student is required to either pay the interest while attending college, or the loan interest accrues while attending school, and payments are deferred until six months after the student is no longer enrolled more than half the time.

The qualifications for either of the Federal Stafford loans are first determined by filling out a Free Application for Federal Student Aid (FAFSA). After the school has made a determination by reviewing the results of the FAFSA, they will present the options for which you qualify. In the event that you are approved for a Federal Direct Stafford Loan – the Department of Education will be the lending institution which is providing you the loan. If your school participates in the FFEL program, they may suggest that you consider their preferred lending institutions. You are not required to accept a loan from the school’s preferred list of lenders, and it is up to the each student’s discretion which lender they choose to carry their Federal Stafford Loan through.

Below, are some points to consider when determining a lender for Federal Stafford Loans:

  • Does the lender offer the ability to handle all of the types of loans you have?
  • What are the interest rates and the terms of the loans that they are offering?
  • Do they offer an easy way to apply for the loans – Can the loan be applied for online?
  • Is their repayment plan relatively simple, or is it complex?
  • Can you obtain information from their customer service representatives easily?

With both types of Federal Stafford Loans; Federal Direct Stafford Loans & FFELP Stafford Loans, you will be required to file a master promissory note (MPN), acknowledging acceptance of the agreement for the conditions of the loan amount that you are borrowing, and for the terms which are set forth therein.

Do you want to apply for Federal Stafford Loans?
Apply for Federal Stafford Loans today.