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Federal Student Loans (Stafford Loans) for College from NextStudent

Federal student loans (also called Federal Stafford Loans) are perhaps the 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
2% Upfront Cash Rebate
3% Cash Rebate: on the remaining principal balance after the first 30 months of consecutive on-time payments. Borrower must particpate in auto-debit
.375% Interest Rate Reduction: for electing to use auto-debit for repayment
Federal student loans are eligible for federal loan consolidation
Tax deductions and flexible repayment options available
No co-signers required

Understand the Two Types of Federal Student Loans (Stafford Loans)

Stafford Federal student loans 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 Federal Student Loans

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 Stafford Federal student loans 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 Federal Student 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 Stafford Federal Student Loans?

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

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