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Interest Rates and Fees Drop for Federal Stafford Loans
Good News! If you're planning to take out a Federal Stafford Loan for the 2009-2010 academic year, the terms just got better at National Education. Here are the savings.
Terms for Federal Stafford Loans Disbursed
on or after July 1, 2009 thru June 30, 2010
| Subsidized Federal Stafford Loans — Undergraduate Students | 5.6% Fixed Interest Rate* (lower rate) |
.50% Federal Origination Fee (lower fee) |
0 to 1% Federal Default Fee, depending on the guarantor (potential lower fee) |
|---|---|---|---|
| Unsubsidized Federal Stafford Loans — All Students | 6.8% Fixed Interest Rate* | .50% Federal Origination Fee (lower fee) |
0 to 1% Federal Default Fee, depending on the guarantor (potential lower fee) |
| Subsidized Federal Stafford Loans — Graduate Students | 6.8% Fixed Interest Rate* | .50% Federal Origination Fee (lower fee) |
0 to 1% Federal Default Fee, depending on the guarantor (potential lower fee) |
* In addition, you will receive a 0.25% interest rate reduction when you make payments using automatic account withdrawal.
The loan terms for PLUS and Grad PLUS Loans remain unchanged for 2009-2010.
If you have Federal Stafford Loans and PLUS Loans at a variable interest rate (loans made July 1, 1998 through June 30, 2008) click here for the rate changes effective on July 1, 2009.
Planning to Borrow? Here are a few Application Reminders.
- If you currently have a Federal Stafford Loan with us and are attending the same school, let your school's financial aid office know that you want a subsequent Stafford Loan with National Education as your lender. The school will send us your loan request.
- If you currently have a Federal PLUS or Grad PLUS loan with us, start the loan process by completing an online request using the link below. Incorporated in the request is a credit review with an instant loan decision.
- If you are interested in a NEW Stafford, PLUS, or Grad PLUS loan, you can apply online by selecting:
Questions? Contact our Customer Service department at customerservice@nationaled.net or (800) 345-4325.