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What is the Stafford loan?

April 26, 2017loan Stafford

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What is the Stafford loan?

2 Answers

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Stafford Loan is an educational loan taken out by a student that is attending school on at least a half time basis. If it is a Subsidized Stafford loan, (student demonstrated financial need for the loan) the borrower is not responsible for interest while he is attending school at least half time and the principle is deferred. If it is an Unsubsidized loan, (financial need was not demonstrated) the principle is still deferred but the student is responsible for the interest.

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Posted

A Stafford Loan is an educational loan taken out by a student that is attending school on at least a half time basis. If it is a Subsidized Stafford loan, (student demonstrated financial need for the loan) the borrower is not responsible for interest while he is attending school at least half time and the principle is deferred. If it is an Unsubsidized loan, (financial need was not demonstrated) the principle is still deferred but the student is responsible for the interest.