The Subsidized Federal Stafford Loan is a low-interest guaranteed loan designed to help you pay for your 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% You are the borrower Government pays the interest while student is enrolled in school and during grace period No credit check is required Available to you as an undergraduate and graduate student Save Money!! Get a 3.3% cash refund if you make your first 33 regularly scheduled Stafford Loan payments on time

No Fees! Apply Online The SNB lender code is 809081. Complete the online application using OpenNet, Sallie Mae's online loan system.

Eligibility

• You should be 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

Complete the FAFSA (Free Application for Federal Student Aid) or a Renewal FAFSA. To choose SNB as your lender for your Federal Stafford Loans, enter the SNB lender code on your application. The SNB lender code is 809081.