Graduate Stafford Loan

Stafford loans are the most popular graduate student loans and provide one of the cheapest forms of funding for education. Graduate students enrolled at least half time at their university or college are eligible for the fixed-rate Federal Graduate Stafford Loan.

Loan Terms:

Dependent Annual loan limit Freshman $3,500 Sophomore $4,500 Junior or senior $5,500 Independent Annual loan limit Freshman $7,500 Sophomore $8,500 Junior or senior $10,500 Graduate or professional $20,500 Loan Type Loan Limit Lifetime limit for dependent undergraduate $23,000 Lifetime limit for undergraduate independent $46,000 Lifetime limit for graduate or professional $138,500

Eligibility:
To qualify for the Federal Graduate Stafford Loan, borrowers must be attending college classes at least half time and completed and submitted a FAFSA. Eligible students must be a U.S. citizen, permanent resident, or eligible non-citizen and not in default on any previous education loan.

Interest Rates:
Federal Graduate Stafford loans distributed since July 1, 2006 have a 6.8% fixed interest rate 

Repayment:

• Standard repayment: This standard repayment option provides the lowest interest rate of any option. The borrower makes monthly principal and interest payments for the life the unpaid loan, up to a 10-year repayment term.

• Graduated repayment: The borrower makes decreased monthly payments for the initial repayment period and increased payments thereafter. The total loan amount must be paid off within the 10-year repayment plan.

• Income-sensitive repayment: The borrower makes payments based on a percentage of their gross monthly income. Reapplication is mandatory every year and payments may fluctuate annually to mirror changes in total income.

• Extended repayment: Borrowers with outstanding loan debt may be qualified for a 25-year repayment term plan and the choice of graduated or standard repayment options.

• Student Loan Consolidation: The borrower creates a consolidated student loan combining all eligible loans into one single fixed interest rate loan with monthly payments.

Additional graduate student loans:

• Graduate Plus Loan
• Graduate Stafford Loan
• Business Student Loans
• Dental School Loans
• Medical Student Loans
• Law School Loans

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