Low-interest government-sponsored loans for students and parents:
- Federal Stafford Subsidized Loans. The government pays the interest for qualified students while they’re enrolled in school at least half time (and for six months immediately thereafter).
- Federal Stafford Unsubsidized Loans. Ideal for students who don’t meet the financial need requirements for a Stafford Subsidized Loan. With this option, students are responsible for the interest that accrues while they’re in school. They can pay the interest while still enrolled, or they can “capitalize” it (add it to the amount they’ll begin paying after college).
- Federal PLUS Loans. Great for parents who want to help finance higher education for their children. They can borrow up to the full cost of education, minus any financial aid received, if they qualify. There’s even an interest-only option while the student is still in school.
How to apply? Online is a great place to start:
1. Fill out the required FAFSA (Free Application for Federal Student Aid).
2. Get a PIN from the U.S. Department of Education, so you can sign documents electronically.
3. After receiving your FAFSA (and other documentation as required), the school will notify you if you’re eligible for a Federal Stafford loan.
4. At that point, use our FASTLoans™ service to apply for Stafford or PLUS loans. You can even “sign” your application electronically with your PIN.
If you’d rather apply offline, contact us at 518-452-8183 or 800-727-3328.