Federal Stafford Loans are available to students regardless of need and are included in the financial aid award. Stafford Loans are subject to annual as well as aggregate limits. In order to be eligible for a Stafford Loan, students must complete a FAFSA.
Subsidized Stafford Loans are used to meet a student’s demonstrated financial need. The interest on subsidized loans is paid by the government while the student is enrolled in school. The interest rate on subsidized Stafford Loans is fixed at 5.6% for loans originated for the 2009-2010 school year for undergraduate borrowers. The rate is 6.8% for graduate borrowers.
Unsubsidized Stafford Loans are not used to meet need. Interest accrues on the loan while the student is enrolled in school. Unsubsidized Stafford Loans for 2009-2010 have a fixed interest rate of 6.8% for all borrowers.
Moravian College’s Recommended Lenders for Federal Stafford Loans
