This is Direct Stafford Loan terms
If you wanna apply a direct Stafford loan, so check this post out. I'll provide you the direct Stafford loan tems.
Maximum loan amount: up to $20.500 annually (depending on their grade level, their status as dependent or independent student, your status as an undergraduate or graduate, and the total cost of attendance).
Interest Rate: the interest rate is variable (adjusted annually on July 1), but does not exceed 8.25 percent. You will be notified every time the variable rate changes. For current rate Stafford Loan interest, visit: http://studentaid.ed.gov/PORTALSWebApp/students/spanish/studentloans.jsp?tab=funding.
Maximum Loan Length: 30 years, depending on the amount borrowed and the payment plan chosen. There are a number of payment plans offered through the Direct Loan program. Read Your Student Loan Payment Online in http://www.studentaid.ed.gov/students/publications/repaying_loans/index.html (in English) for more information about the loan.
Frequency of payments: monthly or quarterly. After graduating, leaving school or reduce enrollment to less than half time, you have a grace period of six months before you start paying.
Prepayment Penalties: None.
Fees: You pay a fee of up to four percent of the loan, deducted proportionately from each loan disbursement. Because this deduction, you will receive slightly less than the amount you are borrowing.
Hope this post can help you. Have a great day :)
Maximum loan amount: up to $20.500 annually (depending on their grade level, their status as dependent or independent student, your status as an undergraduate or graduate, and the total cost of attendance).
Interest Rate: the interest rate is variable (adjusted annually on July 1), but does not exceed 8.25 percent. You will be notified every time the variable rate changes. For current rate Stafford Loan interest, visit: http://studentaid.ed.gov/PORTALSWebApp/students/spanish/studentloans.jsp?tab=funding.
Maximum Loan Length: 30 years, depending on the amount borrowed and the payment plan chosen. There are a number of payment plans offered through the Direct Loan program. Read Your Student Loan Payment Online in http://www.studentaid.ed.gov/students/publications/repaying_loans/index.html (in English) for more information about the loan.
Frequency of payments: monthly or quarterly. After graduating, leaving school or reduce enrollment to less than half time, you have a grace period of six months before you start paying.
Prepayment Penalties: None.
Fees: You pay a fee of up to four percent of the loan, deducted proportionately from each loan disbursement. Because this deduction, you will receive slightly less than the amount you are borrowing.
Hope this post can help you. Have a great day :)
