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Got this semester covered but wondering how you’re going to pay for next semester? If mom and dad can’t help you out as much as they want to, you might consider applying for a Federal Stafford Loan.

Federal Stafford Loans are one of the most affordable student loans available to you, with a low 6.8% fixed interest rate. And as long as you’re enrolled in college at least half-time, you don’t have to start repaying your Stafford loan until you’re out of school.

Let Both Stafford Loan Options Work for You

The Stafford Loan Program offers two types of student loans: subsidized Stafford loans (awarded on the basis of financial need) and unsubsidized Stafford loans (non–need-based).

With a subsidized loan, the government will pay for any interest that accrues while you’re in school, when you’re in deferment, and during your grace period.

With an unsubsidized federal stafford loan, you’re responsible for all interest that accrues, even when you’re not making student loan payments. Any interest that accrues while you’re in school, in deferment, or in a grace period will be added to your principal loan amount for you to repay once your repayment begins.

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You may qualify for either type of Stafford loan or a combination of both.

Applying for a Stafford Loan With NextStudent Is Simple

Just complete your FAFSA (Free Application for Federal Student Aid), and you’re already started! There’s no credit check. You just need to meet the eligibility requirements:

High school diploma or GED
Enrolled or accepted in an eligible undergraduate program, attending at least half-time
Maintaining satisfactory academic progress, as determined by your school
U.S. citizen or permanent resident
Not in default on any federal student loans
Registered with the Selective Service if you’re male and between the ages of 18 and 25

Once you’re approved for your Stafford loan, a check will be sent to your school. You have 14 days to decide whether you want to use the entire Stafford loan amount or only part of it.

After your tuition and other school-billed fees are paid, you’re free to use any leftover Stafford funds for your books, supplies and other college-related expenses.

Even More Benefits With an Undergraduate Stafford Loan From NextStudent

Take out your Stafford loan with NextStudent, and you could qualify for NextStudent’s rate reduction rewards.*

Get an immediate 0.25% rate reduction as soon as you sign up to have your student loan payments automatically deducted from your savings or checking account. Lower your rate and never have to worry about late payments or lost mail.

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We’ll knock another 1% off your rate after your first 36 on-time payments. And we’ll lock in this 1% rate reduction for the life of the loan, even if you miss a payment later on down the road.

OR make 48 consecutive on-time payments and lower your rate by 2%.

And after graduation, you can choose to consolidate both your unsubsidized and subsidized Stafford loans with a NextStudent Federal Student Loan Consolidation. You get more time to repay, and you could substantially lower your monthly payment.

So don’t stress about paying for college on your own. Apply for your NextStudent Stafford loan today, and let us help you make paying for school as simple as possible!

NextStudent believes that getting an education is the best investment you can make, and we are dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans, Private Student Loans and Student Loan Consolidation at NextStudent.com �

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*NextStudent will discontinue all interest rate discount benefit plans if Congress enacts the College Cost Reduction Act of 2007. It is not certain at this time if that legislation will be enacted. If it is, it is not known what its effective date will be. Provisions within the pending legislation would change the fee structure and yields for lenders that make federal education loans. It is not known at this time on which date the new provisions will take effect, nor whether they would be applied to loan applications that had been submitted prior to that date but not yet funded. NextStudent will not offer the interest rate discount benefits for those applications that are subject to the new provisions. NextStudent will make its best efforts to process all applications it receives prior to the date the new provisions take effect, but cannot guarantee that your application will be processed in time for the interest rate discount benefits to apply.