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Stafford Loans were available both as subsidized and unsubsidized loans. Subsidized loans are offered to students based on demonstrated financial need (see Expected Family Contribution). The interest on subsidized loans is paid by the federal government while the student is in school and during authorized deferment.
The FFELP offers four types of loans: the subsidized Federal Stafford Loans, unsubsidized Federal Stafford loans, the Federal PLUS Loan for graduate students and for parents of dependent undergraduate students, and consolidation loans. [3] The main federal student loan is the Stafford Loan. There are two types of Stafford loans: Subsidized.
Once aggregate limits are met, the student is ineligible for additional Stafford loans until they pay back a portion of the borrowed funds. A student who has paid back some of these amounts regains eligibility up to the aggregate limits as before. Graduate students have a lifetime aggregate loan limit of $138,500.
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Older student loan names include Perkins, FFEL, and Stafford. Your credit report says so When you check your credit report, it’ll list who the lender of your student loans is.
The Free Application for Federal Student Aid (FAFSA) is a form completed by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.
It all started with Iowa Student Loan, a nonprofit organization that’s been around since 1979. In 2001, it launched a for-profit subsidiary called Aspire Resources. Aspire Student Loans: How to ...
A private student loan is a financing option for higher education in the United States that can supplement, but should not replace, federal loans, such as Stafford loans, Perkins loans and PLUS loans. Private loans, which are heavily advertised, do not have the forbearance and deferral options available with federal loans (which are never ...