Federal Stafford Loan
The Stafford loan program allows students to borrow for educational expenses. In order to determine eligibility, a student must complete the FAFSA.
There are two loans under the Stafford loan; subsidized and unsubsidized. The subsidized loan is a need based loan which does not accrue interest while the student is enrolled at least half time. The unsubsidized loan is a non-need based loan which interest does accrue while the student is attending at least half time.
A minimum enrollment status of at least half time is required in order to be eligible to receive the Stafford loans. Repayment on the loan begins six months after graduation or when the student ceases half time enrollment.