You should use the "BACK" and "FORWARD" buttons to move through the topics in order, but use the links below to skip to a topic to review:

Start
Your promissory note
Loan Eligibility and Other Financial Assistance
Interest on your loan
Enrollment Requirements
Stafford Loan repayment
Sample monthly repayment assuming a 6.8% interest rate
If you fail to make a loan payment for 6 months, you go into DEFAULT
You must repay full loan
Keep in touch with your lender
Your lender should tell you..
Prepare now for repayment
Your financial aid history
Congratulations!!!

Interest on your loan

Federal law sets the maximum interest rates and fees that lenders may charge for federally-guaranteed loans. You may be able to deduct some of the interest you pay on student loans on your federal individual income tax return.

Federal Stafford Loan Prior to July 1st 2006, rate was variable.
Effective July 1st, 2006 the rate changed to fixed.
Subsidized Stafford Loan—interest paid by government while you are a half-time student.
Unsubsidized Stafford Loan and Graduate PLUS—you are responsible for the interest while attending school. You do not have to pay the interest while in school (it can be capitalized - added to your principal for payment later). However, postponing interest payments may cost you a significant amount of money over the life of your loan.
For additional information on interest rates, go to current rate.