Loans

Federal Stafford Loan

 

Two Types of Federal Direct Stafford Loans

  1. Subsidized Federal Stafford Loan
    A Subsidized Stafford Loan is awarded based on financial need. While the borrower remains in school, the interest on the loan is paid by the federal government.
  2. 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

  1. FAFSA – Required for any type of federal loan.
  2. Entrance Counseling– Required if you are a first time borrower. Please use our step-by-step guide to help you complete the Entrance Counseling.
  3. Master Promissory Note – Must have U.S. Department of Education FSA ID. Please use our step-by-step guide to help you complete the Master Promissory Note.

Repayment

  • Begins 6 months after dropping below half-time status
  • Ten year repayment term
  • 3.76% fixed interest rate for Subsidized Stafford Loans
  • 3.76% fixed interest rate for Unsubsidized Stafford Loans
  • 5.31% fixed interest rate for 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 approximately 1.1% is deducted proportionately from each loan disbursement.

Annual Amounts*

Dependent Students
Number of Credits Base Amount** Additional Unsubsidized Amount
0-26 $3,500 $2,000
27-55 $4,500 $2,000
56-84 $5,500 $2,000
85+ $5,500 $2,000
Independent Undergraduate Students and Dependent Students Whose Parents Are Denied a PLUS Loan
Number of Credits Base Amount** Additional Unsubsidized Amount
0-26 $3,500 $6,000
27-55 $4,500 $6,000
56-84 $5,500 $7,000
85+ $5,500 $7,000
Graduate Students
Maximum Unsubsidized Amount
$20,500

*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.

If you have borrowed monies through the Stafford Subsidized and/or Unsubsidized Loan programs at some time during your educational career, federal student aid regulations require you to complete Stafford Loan Exit Counseling when you cease to be enrolled at least half time (6 or more credits) or as you graduate from/transfer from/otherwise leave Bryan College. Click here for more information on loan repayment.

To satisfy the requirement, Bryan College provides an Online Stafford Exit Counseling session and will automatically be notified after you successfully finish the session.

You will need to provide the following information: Social Security Number; driver’s license number; expected permanent address; expected employer (if known); and the names, addresses, telephone numbers, and employers of your Next of Kin and for two additional references for yourself (these should be three different people living at three different addresses).

Exit counseling will assist you with managing your student loans and help you understand your options and responsibilities. We encourage you to take the management of your student loans responsibly as the consequences of not repaying them are serious and will affect your ability to obtain credit for post-college necessities (car, housing, etc.).

If you currently are attending or will transfer to another college or university, you still must complete the online Stafford Exit Counseling session for Bryan College. However, enrollment of 6 or more credits at your new school should qualify you for deferment of student loan repayment. Check with your new school for information on its loan deferment process.

You can view the balance of your student loans using your Federal PIN (the one you used to electronically sign your FAFSA) at this link.

Online Stafford Exit Counseling »