Stafford Loans

The Department of Education offers low interest rate loans to students. Subsidized loans are based on financial need. While in school and during the grace period, the government pays the interest on subsidized loans. Unsubsidized loans are available to all students regardless of financial need. You are charged interest on these loans while you attend school. You have the option of paying the interest as it accrues or postponing the interest payments until after you graduate, withdraw or drop below half-time enrollment. Students can borrow up to $8,500 per academic year under the subsidized Stafford loan program, and they can increase the amount to $38,500 per year with an unsubsidized loan.