A Subsidized Stafford Student Loan should be your first choice when looking to pay through school. The Subsidized Stafford Student Loan has many benefits to it, one of which is a low fixed interest rate, which can be very low. With the Subsidized Stafford Student Loan you have no payments and interest while you are enrolled in school. Also with the Subsidized Stafford Student Loan you are accepted not based on credit.
To be eligible for the Subsidized Stafford Student Loan you must meet their qualifications. To meet their qualifications you must be a US Citizen or an eligible non-citizen, you must be enrolled in school at least as a half-time student or more, you must complete the FAFSA, you must be a high school graduate or have a GED and you must not have a default on any existing federal loans. When you complete your FAFSA and you receive your results, your school and the Department of Education are going to determine if you may receive a Subsidized Stafford Student Loan and how much money you may borrow, if any.
If you are eligible for a Subsidized Stafford Student Loan the federal government will pay the interest on your loan. The federal government will pay your interest while you are in school, if you ever fall into a load deferment period and during your six-month grace period that comes after you graduate from school. After your six-month grace period you will have to start paying your monthly payment amount that you have discussed earlier with your loan provider. You will have about 10 to 25 years to repay your Subsidized Stafford Student Loan. Make sure that you use your grace period wisely and find yourself a job and if you choose you may start paying your payments during your grace period.
