Student stafford loans
 Stafford loans have low interest rates. To make our Federal Stafford loans even more affordable, we charge zero up-front fees. And you won’t have to make any payments while you are enrolled in school at least half-time.
Please be aware that due to current conditions in the student loan market in particular and in the financial sector in general, NextStudent is not currently able to accept any new PLUS, Grad PLUS, Stafford, or Federal Consolidation Loan applications. However, you may be able to apply for these federal student loans from one of our trusted partners
Subsidized Stafford Loans
Subsidized Stafford loans are for students who have demonstrated financial need. The federal government pays the interest on subsidized loans while the student is in college and during grace and deferment periods. To qualify, students must be able to demonstrate financial need as determined in accordance with federal regulations. When determining eligibility, colleges consider all of the student's financial aid resources.

Unsubsidized Stafford Loans
Unsubsidized Stafford loans are not based on financial need. With unsubsidized loans, students are responsible for paying all the interest on the loan, from the day the loan is first disbursed to when it is paid in full.

Although these loans are made through lending Institutions such as banks and savings and loans, you MUST apply for financial aid, attend a loan workshop every year, and turn in all documents requested before the Financial Aid Office will approve your Stafford Student Loan. Current and former students who are in default or in overpayment status of federal student aid funds will not be permitted to receive federal aid.

Borrowing
If your school is a Direct Loan school, your school will provide all the necessary instructions for you to obtain your Stafford loan. If your school is a "FFEL School", you will need to choose a lender for your loan. Note: Your school may present to you a list of lenders from which to choose your loan. However, you are free to choose any lender that participates in the FFEL program. The "Preferred Lender List" is simply provided to you as a convenience as hundreds of lenders offer Stafford loans. Be sure to research your options. While the terms and rates are set by the federal government, lenders will sometimes offer an incentive that can reduce the cost of borrowing.

Once you have chosen a lender, you will also need to sign a promissory note. The promissory note is your legally binding agreement to repay your loan. Be sure to also read the "Borrower's Rights and Responsibilities" which should be part of the loan package. Your school will also conduct an "Entrance Interview" that you must complete in order to receive your loan proceeds. The Entrance Interview will be conducted in-person or online and is an informational session to ensure you understand your rights and responsibilities connected with borrowing a federal loan. The session will likely last no more than 20-30 minutes.

Your school will determine your eligibility for either a Subsidized and/or Unsubsidized Stafford loan. "Subsidized" means the government pays the interest on your loan while you are in school at least half-time and during periods of deferment. "Unsubsidized" means you are responsible for either making interest-only payments on your loan while you are in school or allowing the interest to be capitalized (allowing the interest to be added to your loan principal) while you are in school. Interest on Unsubsidized loans accrues daily.
What are the eligibility requirements for a Stafford Loan?
Be a U.S. citizen or national, a U.S. permanent resident or eligible non-citizen, as applicable LUS loan is that parents can borrow federally-guaranteed low interest loans to help pay for their child's education.
Provide his or her valid Social Security Number
Be attending an eligible school, or accepted for enrollment, as at least a half-time
f already enrolled, maintain satisfactory academic progress in his or her course of study according to the school's published standards
Unless exempt, register with the Selective Service (male students)
Not be serving in a medical internship or residency program required of doctors of medicine, osteopathy, and optometry. Students who are serving in an internship as part of any other degree program (e.g., a dental or veterinary internship) are considered eligible students for purposes of Stafford loans and PLUS loans, as applicable
Federal undergraduate student loans carry much lower loan limits than private loans, but they come with slightly lower interest rates. Private student loans are used to fill the gap between what you were awarded in college financial aid and the total amount you need to cover all of your college expenses. They are credit based loans so please know they're not free money for college and must be repaid.
Consolidation loans have longer terms than other loans. Debtors can choose terms of 10-30 years. Although the monthly repayments are lower, the total amount paid over the term of the loan is higher than would be paid with other loans. The fixed interest rate is calculated as the weighted average of the interest rates of the loans being consolidated, assigning relative weights according to the amounts borrowed, rounded up to the nearest 0.125%, and capped at 8.25%. Some features of the original consolidated loans, such as post graduation grace periods and special forgiveness circumstances, are not carried over into the consolidation loan, and consolidation loans are not universally suitable for all debtors.