SNB Lender Code: 809081 The Unsubsidized Federal Stafford Loan is a low-interest guaranteed loan designed to help students pay for their education cost. Qualification is NOT based on financial need. Features - The interest rate on Stafford Loans disbursed on or after July 1, 2006 is fixed at 6.8%
- Student is the borrower
- Student is responsible for the interest while in school and during grace period. Students can defer interest payment until completion of school
- No credit check is required
- Available to undergraduate and graduate students
- Possible to qualify for a portion of each type: subsidized and unsubsidized
- Save Money!! Get 3.3% cash back - apply it to your loan balance or receive a check. When you make your first 33 scheduled Stafford Loan payments on time, you will be eligible to receive 3.3% of your original Stafford Loan balance back.
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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
- Maintain satisfactory academic progress, as determined by the school
- Based on cost of attendance
Fees
No Fees!
- SNB will pay the federal origination fee on all Stafford Loans
- SNB will pay the federal default fee on Stafford Loans guaranteed by USA Funds or the Oklahoma Guaranteed Student Loan Program
Cumulative Unsubsidized Loan Maximum
- Undergraduate: $23,000
- Graduate: $50,000
- Combined Undergraduate & Graduate: $73,000
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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