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:

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, 2009, and before July 1, 2010, will be fixed at 6.8% with the exception of the undergraduate subsidized Stafford which will be fixed at 5.6%.
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 0.5%. 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.

Dependent Undergraduates (Exclusive of students whose parents are unable to borrow under the PLUS program)	Subsidized	Total (Subsidized and Unsubsidized)
First Year	$3,500	$5,500
Second Year	$4,500	$6,500
Third year and beyond	$5,500	$7,500
Aggregate Limits	$23,000	$31,000

Independent* Undergraduates (And dependent students whose parents are unable to borrow under the PLUS program)	Subsidized	Total (Subsidized and Unsubsidized)
First Year	$3,500	$9,500
Second Year	$4,500	$10,500
Third year and beyond	$5,500	$12,500
Aggregate Limits	$23,000	$57,500

Independent* Graduate and Professional Students	Subsidized	Total (Subsidized and Unsubsidized)
Graduate and professional students	$8,500	$20,500
Aggregate Limits	$65,500	$138,500

* Find out if you are an independent student.

These annual loan limits apply to loans disbursed on/after July 1, 2008.

Certain health profession students may qualify for higher limits.
Undergraduate annual loan limits are subject to proration.
The most that a student can borrow in subsidized and unsubsidized Stafford loans annually is equal to the student's cost of attendance minus other estimated financial assistance, without going over the maximum amounts permitted for the student's academic level. Learn more about subsidized and unsubsidized loans.

Stafford Loan FAQs

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