For the 2008-2009 Academic Year After seeking out grants and scholarships that don't have to be paid back, consider a Federal Stafford Loan as a low-cost option to help pay for college. Choose us as your lender and you may be eligible for these borrower benefits:
- 0.25 percentage point interest rate reduction for payments made via automatic debit*
- 24 x 7 online account management at www.SallieMae.com/Repayment
*Learn how to earn these benefits.
Features:
- The interest rate on Stafford loans first disbursed beginning July 1, 2006 is fixed at 6.8%.
- Flexible repayment options are available, including consolidation.
- No payments are required while you are in school at least half time.
- There is no prepayment penalty.
- No credit check is required.
- Six month grace period when no payments are required immediately following your graduation or dropping to less than half-time status.
Stafford loans are fixed rate loans (6.8%) available to undergraduates and graduate students who are attending school at least half-time. There are two types of Stafford loans: subsidized and unsubsidized. More information
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