Graduate Stafford Loans from American student loan services
Graduate Stafford Loans are perhaps the most affordable ways to pay for school for a graduate student. The two biggest benefits are the interest rates on Federal Graduate Stafford Loans are lower than other forms of consumer financing, and repayment on Graduate Stafford Loans are postponed until you are out of school.
- A low Federal interest rate of 6.80%
- No co-signers required
- There’s no credit check or collateral required
- No payments while you are in school (6 or more credits)
- Graduate Stafford Loans are eligible for Federal College Loan Consolidation
- Once in repayment there are flexible repayment options available
Steps to Receive a Federal Stafford Loan
- Complete the Free Application for Federal Student Aid (FAFSA), or the Renewal FAFSA if applicable. After your FAFSA has been processed, your school will review the results and inform you about your loan eligibility.
- Complete a Federal Graduate Stafford Loan Application.
ASLS Makes Graduate Stafford Loans Easy
Federal Stafford Loans are the most common source of education loan funds and are available to both graduate and undergraduate students. There are two types Federal Stafford Loans: Subsidized loan and Unsubsidized loan.
- Federal Subsidized Stafford Loan
Federal Subsidized Stafford Loans are available to those who qualify based on need or income. "Subsidized" means that the Federal Government will pay all interest on your loan while in any deferment including while your are in school and during your grace period, which is for the first six months after you graduate or cease to be enrolled at least half-time. - Federal Unsubsidized Stafford Loan
Unlike the Federal Subsidized Stafford Loan, Unsubsidized Stafford Loans are not based on need or income. All students and families of income levels that do not qualify for Subsidized Stafford Loans have access to Unsubsidized Stafford Loans. Most features are the same as the Subsidized Stafford Loans, except that additional funds may be available, and you are responsible for all the interest from the day the loan is made You may pay the interest quarterly or add the accrued interest to the principal when repayment begins.
Interest Rates on Federal Stafford Loans
Interest rates on Federal Stafford Loans are at a low fixed rate of 6.80%. All Federal Stafford Loans that were created prior to July 1st, 2006 have a variable interest rate with a cap of 8.25%.
Eligibility of Graduate Stafford Loans
You must be a citizen of the United States or a permanent resident. You must also be enrolled full time or half-time. No credit checks are required for a Federal Stafford Loan.
Federal Stafford Loan Repayment and Amounts
Repayment will normally begin six months after the student leaves college, and the minimum monthly payment on Federal Student Loans is $50 (your actual payment depends on the amount borrowed). There are no prepayment penalties or fees for Federal Stafford Loans. Federal Stafford Loans are initially set at a 10 years repayment plan. Federal Student Loan Consolidation is an easy way to lower your monthly payment.
Students Can Borrow Federal Graduate Stafford Loans along the following guidelines:
| Academic Level | Dependent Student | Independent Student |
|---|---|---|
| Graduate Student | N/A | $18,500 (up to $8,500 subsidized) |
Graduate Students can borrow up to $138,500 in Federal Stafford Loans (up to $65,500 may be Subsidized Stafford Loans. Graduate Students may also receive Private Student Loans to help cover the total cost of college.
Now Available! Graduate (PLUS) Loans are available for graduate students to cover all of your college costs (less any financial aid received)
Apply Online for a Federal Graduate Stafford Loan Now.
Or talk to one of our Student Loan Advisors at
(800) 575-1099
