Federal Stafford Loans
Federal Loan. All Federal student loans must be obtained through the Department of Education. Click on Learn How to Apply for step-by-step directions.
Graduate and Undergraduate students are eligible to borrow under the Federal Stafford Loan Program. The limit is determined by the student's status and year in school. Refer to Maximum Annual Loan Limits Chart for loan amount. Applicants for these loans are required to complete the FAFSA and sign a Master Promissory Note with the Department of Education.
Federal Direct Lending Loan Center: 1-800-557-7394
| 2013-2014 Federal Stafford Loan Subsidized* |
2013-2014 Federal Stafford Loan Unsubsidized |
|---|---|
| Interest Rate: 3.4% Fixed (may change to 6.8% Fixed on July 1st) Federal Fee: 1%** |
Interest Rate 6.8% Fixed Federal Fee: 1%** |
*During the 6-month grace period the subsidized loan interest will accrue (for undergraduate students), Graduate students will NO longer be eligible for subsidized Stafford loans; Graduate Stafford loans of $20,500 will be unsubsidized as of July 1, 2012.
** There will NO longer be a .5% upfront rebate on the Federal fee as of July 1, 2012.
Eligibility Requirements:
- Undergraduate or Graduate Student attending an eligible institution at least halftime
- U.S. citizen or national, a U.S. permanent resident, or an eligible non–citizen
- Making satisfactory academic progress as determined by your institution
- You must submit a FAFSA
Loans and the AAA Student Lending Program offered through AAA Southern New England Bank. Rates and terms are subject to change or termination without notice. Loans subject to satisfactory credit approval and Federal government eligibility requirements. AAA Student Lending Program Member Benefits are subject to change or termination without prior notice. Other loans and terms available.
You may qualify for Federal student loans. We encourage students to exhaust Federal student loan options before applying for a Private student loan, as Federal loans are often less expensive and offer the widest variety of repayment options.
