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Stafford Alternative Parent PLUS Graduate PLUS Consolidation

Stafford Loans

A Stafford loan is one of the most affordable loans available to students and is the most common source of student loan funds. The interest rate is lower than most educational funding, and payments are deferred until the student leaves school. There are two types—subsidized and unsubsidized.

Stafford Loan Limits »

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Students Save

  • No Origination fee
  • Save 0.50% off of the rate with automatic payments*
  • Save 0.25% off the rate after 36 consecutive, on-time payments*

*Benefits are for loans disbursed on/after July 1, 2008.

Students Benefit

  • 6.80% fixed rate—lower than most educational funding
  • Deferred payments while enrolled at least half-time
  • 6-month grace period (no payments due) after leaving school or dropping below a half-time status
  • 10-year repayment term
  • 15-day grace period after payment due date
  • Alternative repayment plans available, including graduated and income-sensitive plans

Eligibility

  • Enrolled at least half-time
  • Eligible to undergraduate and graduate students
  • Determined by the financial aid office at the school; based on your FAFSA*

    *To determine eligibility for Stafford loans and other federal student aid, complete a Free Application for Federal Student Aid (FAFSA) form. Your school will use this information to determine your eligibility for financial aid. More about FAFSA and the loan process »

Disbursement

  • Loan funds are sent to the school at the beginning of each semester.
  • The 1% insurance fee is withheld from each disbursement.
  • First-time borrowers will have their first disbursement delayed for 30 days (federal requirement).

Repayment

The standard repayment term is 10 years. If you have a large balance or an economic hardship, reduced payments are possible. Interest accrual and defermant varies between subsidized and unsubsidized Stafford loans. Learn more about the differences: subsidized versus unsubsidized loans.

Go
Lender Name:
UW Credit Union
Lender Code:
818611 (Stafford/PLUS)
878611 (Consolidation)
Lender Address:
3500 University Ave.
Madison WI 53705
 
*Room makeover valid with Campus Package services. Not necessary to open an account to win. To enter, send a 3 x 5 card with name, address, city, state, ZIP, email and daytime phone to: 'Registration Sweepstakes,' UW Credit Union, PO Box 44963, Madison, WI 53744-4963. New accounts opened online and mailed entries have an equal chance of winning. Submission deadline 8/20/08 with drawing held 8/22/08 at UW Credit Union. Winner notified by phone or mail. By law, this prize must be reported for tax purposes. Employees and their family members are not eligible to win.