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Unsubsidized Stafford Loans (Federal Family Education Loans or FFEL)

Unsubsidized Stafford Loans (or FFEL) are student education loans that start adding interest to the amount owed starting from the time a student gets the loan. These loans are managed by independent lenders, like banks or credit unions, and the student must choose a lender after they get approval for this type of loan.

Am I eligible?
You may be eligible if:
  • You’re an undergraduate or graduate student
  • You’re working toward a degree at a school that participates in the Federal Family Education Loan Program
  • You’re enrolled at least half-time
  • You’re a U.S. citizen or an eligible non-citizen
  • You’ve applied for an unsubsidized Stafford loan on the FAFSA
How much can I borrow?
The amount you can borrow as an unsubsidized Stafford Loan depends upon information from their FAFSA, and whether you’re paying for an undergraduate or a graduate education. The amount can range from up to $6000-$7000 for a year of undergraduate school to as much as $12,000 for one year of graduate school.

When do I need to start repaying the loan?
  • You can start paying back just the interest amount while in school, or you can allow the interest to add onto their loan amount.
  • You need to start repaying the full loan (not just the interest) 6 months after graduating, leaving school (without graduating), or attending school less than half-time.
  • You have up to 10 years to repay the loan.
When should I apply?
You should apply for Stafford loans when you’re applying for college. You can also apply while attending college. You’ll need to apply each year by filling out the FAFSA.
 
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