SNB Lender Code: 809081 The Subsidized Federal Stafford Loan is a low-interest guaranteed loan designed to help students pay for their education cost. Qualification depends on financial need. The federal government will pay the interest for you while you are in school and during your grace period. - The interest rate on Stafford Loans disbursed on or after July 1, 2006 is fixed at 6.8%
- Student is the borrower
- Government pays the interest while student is enrolled in school and during grace period
- No credit check is required
- Available to undergraduate and graduate students
- Save Money!! Get a 3.3% cash refund if you make your first 33 regularly scheduled Stafford Loan payments on time
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Apply Online Complete the online application using OpenNet, Sallie Mae's online loan system. |
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Eligibility - Student enrolled on at least a half-time basis
- Based on financial need and cost of attendance
- Maintain satisfactory academic progress, as determined by the school
Fees
No fees! - SNB will pay the federal origination fees on all Stafford Loans
- SNB will pay the federal default fee on Stafford Loans guaranteed by either USA Funds or the Oklahoma Guaranteed Student Loan Program
Cumulative Subsidized Loan Maximum - Undergraduate: $23,000
- Graduate: $42,500
- Combined Undergraduate & Graduate: $65,500
Repayment Terms - Repayment starts six months after graduation, withdrawal or dropping below half-time enrollment
- $50 minimum monthly payment
- 10-year maximum repayment period is standard
- Other repayment options available based on amount borrowed and financial need
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