Federal Stafford Loans
Federal Subsidized and Unsubsidized Stafford Student Loans – These loans are guaranteed by the Federal government and offer low interest rates and fees. There are two types of Stafford loans: subsidized (based on need), where the federal government pays the interest while you're in school, and during grace and deferment; and unsubsidized (not based on need), where you're responsible for paying all the interest on the loan. How much you can borrow largely depends on your college costs, your expected family contribution, your year in school and your enrollment status, and how much other financial aid you may receive. The first step in applying for a Stafford Loan is completing the Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA. After your FAFSA is processed, your school will review the results and will inform you of your loan eligibility. A subsidized loan and an unsubsidized loan can be awarded and received for the same enrollment period.

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