Federal Stafford Loans
Direct Stafford Loans, from the William D. Ford Federal Direct Loan (Direct Loan) Program, are low-interest loans for eligible students to help cover the cost of higher education. Eligible students borrow directly from the U.S. Department of Education. Federal Stafford Loans are subsidized and/or unsubsidized, depending on financial need.
Subsidized loans are for undergraduate students and are based on financial need, as determined by the results of your FAFSA. It carries a 6.8 percent fixed interest rate, effective July 1, 2012. Repayment of the principal is deferred until six months after you graduate or cease half-time enrollment. The interest is paid by the government while you are enrolled and during your grace period.
Unsubsidized loans are available to all students -- undergraduate and graduate -- who file the FAFSA, regardless of financial need. The interest rate is fixed at 6.8 percent. Repayment of the principal is deferred until six months after you graduate or cease half-time enrollment. Interest accrues while enrolled. Deferment options are available for interest payments.
Federal Stafford loan amounts vary depending on grade level and dependency status.
If you are a first-time Stafford Loan borrower at SXU, don't forget to complete your Master Promissory Note (MPN) and Entrance Counseling as soon as possible!
Complete your government-required Entrance or Exit Counseling online today!
Look Up Your Loan
Use the National Student Loan Data System (NSLDS) to review all your Federal student loan information online. You can monitor your loan status until the day your loan is fully repaid.