Federal Stafford Loan
Stafford Loan Request »Two Types of Federal Direct Stafford Loans
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Subsidized Federal Stafford Loan
A Subsidized Stafford Loan is award based on financial need. While the borrower remains in school, the interest on the loan is paid by the federal government. The interest rate for a loan first disbursed after June 30, 2011 and before July 1, 2012 is fixed at 3.4% for undergraduate students and fixed at 6.8% for graduate students. -
Unsubsidized Federal Stafford Loan
An Unsubsidized Stafford Loan is not awarded based on financial need. Interest accrues from the date of disbursement until the final payment. The borrower can choose to pay the interest monthly or quarterly while in school and during the grace period or can have the interest capitalized and added to the principal amount of the loan.
Application Process
- FAFSA – Required for any type of federal loan.
- Entrance Counseling – Required if you are a first time borrower at Bryan College.
- Master Promissory Note – Must have U.S. Department of Education PIN.
Repayment
- Begins 6 months after dropping below half-time status
- Ten year repayment term
- 3.4% fixed interest rate for undergraduate Subsidized Stafford Loans first disbursed after June 30, 2011 and before July 1, 2012
- 4.5% fixed interest rate for undergraduate Subsidized Stafford Loans first disbursed after June 30, 2010 and before July 1, 2011
- 5.6% fixed interest rate for undergraduate Subsidized Stafford Loans first disbursed after June 30, 2009 and before July 1, 2010
- 6.8% fixed interest rate for graduate Subsidized Stafford Loans and undergraduate/graduate Unsubsidized Stafford Loans
- .25% interest rate reduction for auto debit
- Provisions available for extended repayment, deferment and cancellation
- No penalties or extra fees for early repayment
- Loan Calculator
Stafford Loan Origination Fees
The net origination fee of .5% is deducted proportionately from each loan disbursement. By law, the total origination fee is 2.0%; however Direct Loans currently offers a 1.5% rebate on this origination fee. If you fail to make 12 on time monthly payments, a charge for the difference between the .5% origination fee and the 2.0% origination fee will be added to the outstanding balance of the loan.
Amount Available*
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Dependent Students |
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Number of Credits |
Base Amount** |
Additional Unsubsidized Amount |
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0-26 |
$3,500 |
$2,000 |
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27-55 |
$4,500 |
$2,000 |
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56-84 |
$5,500 |
$2,000 |
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85+ |
$5,500 |
$2,000 |
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Independent Undergraduate Students and Dependent Students Whose Parents Are Denied a PLUS Loan |
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Number of Credits |
Base Amount** |
Additional Unsubsidized Amount |
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0-26 |
$3,500 |
$6,000 |
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27-55 |
$4,500 |
$6,000 |
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56-84 |
$5,500 |
$7,000 |
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85+ |
$5,500 |
$7,000 |
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Graduate Students |
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Base Amount** |
Additional Unsubsidized Amount |
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$8,500 |
$12,000 |
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*The amounts below are the maximum amounts available and could be less depending upon the student’s actual cost of attendance.
**The base amount may be Subsidized, Unsubsidized or a combination of both.
