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The Simple College Loan (Stafford Loan) from NextStudent

A student college loan (also called a Federal Stafford Loan) is perhaps the easiest and most affordable ways to pay for school. The two biggest benefits are Stafford student loan rates are lower than other forms of consumer financing, and repayment is postponed until you are out of school.

Interest rates currently low—just 6.8%
No collateral or credit check is required
You owe no payments while you are in school
You can qualify for even lower rates with an Automatic-debit discount of 0.25% plus an interest-rate reduction of 2.0% after 48 consecutive on-time payments
The Stafford college loan is eligible for student loan consolidation
Tax deductions and flexible repayment options available
No guarantee fee or co-signers required

Which Type of College Loan: Understand the Two Types of Stafford Loans

A Stafford student college loan processed through NextStudent can be subsidized or unsubsidized.

Subsidized: The government will pay (pay, not defer) the interest on the loan while you are in school and during grace and deferment periods. However, students must demonstrate “financial need” to be eligible for a subsidized Stafford student loan.
Unsubsidized: Students are responsible for all interest, although payment is deferred until after graduation. All students, regardless of need, are eligible for the unsubsidized Stafford Loan.

Repayment of a College Loan

Repayment normally begins six months after the student leaves college, with a minimum monthly payment of $50 (the actual payment depends on the amount borrowed). There is no prepayment penalty for a Stafford college loan and the repayment periods are initially set at 10 years.

Take 2 Minutes to Apply Online or call us toll-free at (800) 299-4639

Stafford College Loan Amounts

Undergraduate students can borrow along the following guidelines:

Academic Level	Dependent	Independent
Freshman	$2,625	$6,625 (up to $2,625 subsidized)
Sophomore	$3,500	$7,500 (up to $3,500 subsidized)
Junior & Senior	$5,500	$10,500 (up to $5,500 subsidized)
Graduate	N/A	$18,500 (up to $8,500 subsidized)

How do I apply for a Stafford College Loan?

You can apply online or call a NextStudent Education Finance Advisor at (800) 299-4639.

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