Student loans information WWW.ABOUT-STUDENT-LOANS.COM
The Web's Best Source For Student Loan Information

Stafford Student Loans

The most popular of all Federal loans is the Stafford Student Loan. The great thing about subsidized Stafford loans is that not a penny is required until 6 months after the student has graduated. This allows the new graduate to get a job and stand on his or her feet before payments are due.

In order to apply for a Stafford student loan or most other Federal loans, you must first fill out a Free Application for Federal Student Aid. Check out this article to learn the Steps to Completing a FAFSA.

If you already have Stafford student loans and wish to consolidate them, click here to read an article about Stafford Loan Consolidation.

Other Federal Student Loan Articles

Stafford Student Loans

Attending college after graduation is a dream all high school students ought to have. Many opportunities are provided to college graduates that arent to everyone else. The problem is, many high school graduates dont have the necessary funds to even pay college tuition let alone everything else. This need not worry you! You have many options! One of these options is to apply for a federal Stafford loan.

Stafford Student Loans are given out by the Department of Education. They are the most common of all federal student loans. Federal Stafford loans are given to undergraduate and graduate students and you dont necessarily have to be in great financial need.

In order to be eligible, you must be a United States citizen who will be attending a United States college or university, you have to be attending school no less than half-time, and you must turn in a FAFSA (Free Application for Federal Student Aid).

The interest rates on the Stafford student loan are fixed. It only changes once a year. Right now its at 6.8%.

Subsidized and Unsubsidized are the two types of Stafford student loans.

Unsubsidized Stafford Loans can be taken out by almost any student regardless of their income. The interest rates will begin as soon as you start college. Nevertheless, you may defer payment of interest until after graduation.

Subsidized Stafford Loans are only given to those students who are in great financial need. You must turn in a FAFSA application in order to prove that you need financial aid. This has to be done annually. You can find this application at

Those who have subsidized Stafford loans do not have to pay interest while they are in school. The government will pay it for you. Interest doesnt accrue and payments dont begin until 6 months after you graduate. After graduation, you will begin making payments yourself.

For people with subsidized loans, undergraduates are allowed to take out loans between $2500 and $5500 per year. Graduate Students can borrow up to $8500 a year. The money is sent straight to your school. Those who have unsubsidized loans are allowed to borrow more.

These loans are available through the government or through private lenders The government has a fixed interest rate for Stafford loans so private lenders are typically better because they have to entice you to borrow from them instead of the government.