Federal Stafford Loans

If you're planning to further your education but do not have the cash, why not apply for a Federal Stafford Mortgage.

Federal Stafford Loans are student loans by the federal government specifically the department of education. They offer low interest student loans for anyone applying to study in a US university or college.

There are also stafford student loans offered through the private banks and financial institutions. However, these stafford loans can be found through the federal family education program. So in this way, the funds from the student loans are

Still in the government. They usually offer lower interest rates compared to federal stafford loans.

Some colleges and universities also provide their own student loan programs. These schools are underneath the federal direct loan program. The government will disburse the funding straight to the school and then to you.

One disadvantages of choosing a school's student loan program is that you don't have the choice of comparing different lenders after which picking which stafford student loan offer to consider.

The interest rates and student loan amounts will differ from school to school so you might want to check with them before deciding.

There are also 2 kinds of federal stafford loans: unsubsidized and subsidized federal stafford financial loans.

As the name implies, unsubsidized federal stafford loan receive without the basis of their financial capacity. The interest rates will start once you start university or college. You are allowed to accumulate your interest and it will likely be added to the principal student loan.

On another hand, subsidized federal stafford loans are given based on their financial capacity. The student will not be charged rates of interest while still schooling. The interest rates will be paid through the government. Not everyone qualifies for subsidized federal stafford financial loans. You may need to check with your school for that requirements.