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Stafford

A Stafford loan is the best way to pay for college after scholarships and grants.

Eligibility

To get a Stafford loan, you must:

• Complete the Free Application for Federal Student Aid (FAFSA)
• Be a U.S. citizen or eligible non-citizen
• Be enrolled in a school that participates in the Federal Family Education Loan Program
• Be enrolled at least half-time while working toward an undergraduate or graduate degree or certificate
• Have no education loans in default or owe education grant refunds.

Special eligibility requirements:

• Register with the Selective Service, if you are male and 18-25 years old
• Show financial need to qualify for a subsidized loan
  

Features & Terms

Who Pays	The student repays the loan. No payments are required while you attend school at least half-time.
Interest Rates	All federal Stafford loans disbursed on/after July 1, 2008, and before July 1, 2009, will be fixed at 6.8% with the exception of the undergraduate subsidized Stafford which will be fixed at 6%.
Interest Payments	Subsidized loans - the federal government pays the interest while you are in school, during your grace period or during any deferment period. Unsubsidized loans - you are responsible for interest payments and can choose to pay them while in school or have them added to the principal balance.
Fees	Origination fees will not exceed 1%. Federal default fee will not exceed 1%.
Grace Period	A 6-month grace period begins when you leave school, graduate or drop below half-time enrollment.
Repayment	Take 10 years to pay – longer with flexible repayment options. No penalties for paying your loan off early.
Loan Management	Stafford loans in repayment or in a grace period are eligible for loan consolidation. Manage your loans online any time. Get single-point servicing for the life of the loan with AES. We are with you every step of the way. Contact us.

Annual Loan Limits

Annual Loan Limits	Subsidized and/or Unsubsidized Loan	Additional Unsubsidized Eligibility For Independent Students*
1st Year Undergraduate	$3,500	$4,000
2nd Year Undergraduate	$4,500	$4,000
3rd, 4th or 5th Year Undergraduate	$5,500	$5,000
Graduate or Professional Student	$8,500	$12,000

*Or dependent students whose parents are denied a federal Parent PLUS Loan.

• Learn more about loan limits.
• Learn more about subsidized and unsubsidized loans.
• Find out if you are an independent student.

Apply for this Loan

• No co-signer is required.
• No credit check is required.