Stafford Loan Interest Rates and Benefits

Stafford Loan Interest Rates and Benefits

Offering the best rates of any student loan program, the Federal Stafford Loan always has the best rate, terms and benefits. The loans are guaranteed by the U.S. government and therefore lenders can offer the loans to students with very low risk. Because of this lower level of risk, student's rates are also better. The Stafford Loans can also be deferred while the student is in school, which means you don't have to make a payment until 6 months after you graduate. Additional benefits include:
Eligible for federal loan consolidation
Tax deductible
Stafford Loan Interest Rates
Note: Graduate Stafford Loans (both subsidized and unsubsidized) have a fixed interest rate of 6.8% through 2013.
Academic Year Subsidized Rates Unsubsidized/Graduate Rates
2007-08 6.80% 6.80%
2008-09 6.00% 6.80%
2009-10 5.60% 6.80%
2010-11 4.50% 6.80%
2011-12 3.40% 6.80%
2012-13 6.80% 6.80%
Current Stafford Loan interest rates in effect from 07/01/2009 to 06/30/2010
Look at Alternative Student Loans
If your federal student aid report indicates that you do not meet the requirements for federal funding, or it falls short of what you need, consider applying for a private student loan. More info can be found at PrivateStudentLoans.com.