Home      Arts & Literature      College University      Financial Aid      Future Concepts      Languages      Online Education      Psychology      Science
How To Apply For Business Education Real Estate Grants
Applying for business education real estate grants can help you pay for courses and certification as a real estate agent.A Reality CheckThe truth is, getting cer…
    Hot Articles
•  How To Apply For Business Educati
•  Tips on Finding Scholarships and
•  The Federal Direct Student Loan P
•  Need A Full Student Loan With An
•  What About Your College Loan Cons
•  How To Write An Effective Scholar
•  How To Find Free College Grant Mo
•  Federal or Private Student Loan?
•  Student Loan To Cover
•  Some Clearing Up On Private Stude
•  Is It Possible To Finance College
•  Student Loans Going Under Serious
    Rec. Articles
   Home > Financial Aid >
Using a Stafford Student Loan To Pay For College

A Stafford student loan is offered to students to help pay for their education. The loan is named after Senator Robert Stafford of Vermont. Because a Stafford loan is backed by the Federal Government, they offer a lower interest rate, however, there are some very strict eligibility requirements.Students applying for a Stafford student loan must first fill out a FAFSA (Free Application for Federal Student Aid) to determine their eligibility for the loan. This form can be quite intimidating, and has numerous financial stipulations and paperwork that is required to be submitted with it.The good news, as mentioned earlier, a Stafford student loan has a lower interest rate, and there is no penalty for early payment unlike other loans. Additionally, many Stafford loans are subsidized, meaning that the interest does not start accruing until after the student graduates from college. This makes the loan much more affordable for the struggling college student, who has to use the money to pay for tuition and books along with room and board.If the Stafford student loan in not subsidized, then the interest accrues to the loan. The student does not have to make payments while they are in school, but they will be responsible for the interest charges that accumulate while they are a student.There are certain programs that allow a student to have the loan forgiven, so that they never have to pay it back. Teachers and some other professions fall into this category. It would pay to check with your lender to find out if your future career path may allow you skip paying your loan off.How much you are able to borrow with a Stafford student loan depends on the classification of the student and grade level. Seniors are eligible for a larger loan than Freshmen, and independent students are also eligible for a larger loan that students classified as dependents to their parents by the university.A Stafford student loan will go a long way to helping a student get enough money to pay for their education. And the lower interest rates make it a lot easier to repay when they graduate from college.

Pre:What Are FAFSA Student Loans?   Next:What Are Student Financial Loans?
Copyright©2008 MyWeb, All Rights Reserved.