All interest rates for this loan are fixed for the life of the loan

All interest rates for this loan <a href="https://badcreditloanshelp.net/payday-loans-az/">payday loans Arizona no credit check</a> are fixed for the life of the loan

If you are not eligible for the maximum annual Federal Subsidized Stafford Loan, you may borrow the difference between the annual maximum and your Federal Subsidized Stafford Loan eligibility as the Federal Unsubsidized Stafford Loan.

The interest rate for the Federal Unsubsidized Stafford Loan can vary depending on the date of the first disbursement of the loan. Interest rates for federal student loans are determined by Congress. For more information about interest rates, please visit studentaid.ed.gov/sa/types/loans/interest-rates. Borrowers are required to pay the interest on any Federal Unsubsidized Stafford Loan while in school or in a deferment period.

Interest may be capitalized if agreed upon by both the borrower and lender. A required origination fee is deducted at the time of disbursement. These can be completed at using your FSA ID and password. Borrowers are advised to read all of the documentation fully before signing.

A dependent undergraduate student may borrow a cumulative maximum of $31,000 (total of Federal Subsidized Stafford Loan and Federal Unsubsidized Stafford Loan) if eligible. Lower limits may apply for students attending less than a full academic year. The Financial Aid Offer indicates the maximum you are eligible to borrow for a particular academic year. If you have borrowed Federal Unsubsidized Stafford Loans, you must complete exit counseling when finishing your academic career at Earlham College.

The Office of Financial Aid electronically notifies borrowers when the loan has been disbursed. Borrowers may cancel all or a portion of the Federal Unsubsidized Stafford Loan disbursement by submitting a written request to the Office of Financial Aid within 15 days of receiving the disbursement notice that the Direct Loan has been disbursed. (more…)

Continue ReadingAll interest rates for this loan are fixed for the life of the loan