For loans first disbursed between Octoand before October 1, 2019, the loan fee is 1.062%, which be deducted proportionately from each loan disbursement. The student (borrower) is responsible for paying the interest during all periods.įor Federal Direct Stafford Loans, there is a loan fee that is a percentage of the amount of each loan you receive.Financial Aid determines the amount students are eligible to borrow, not to exceed cost of attendance.
Available to undergraduate and graduate students there is no requirement to demonstrate financial need.Federal Direct Unsubsidized Stafford Loans.During a period of deferment (postponement of loan payments).For the first six months after leaving school or falling below half-time enrollment.While the student is in school at least half-time.Department of Education pays the interest: Financial Aid determines the amount students are eligible to borrow, not to exceed financial need.Available to undergraduate students with financial need.Federal Direct Subsidized Stafford Loans.The following are the two loan programs available: Loans at SCF Federal Direct Stafford Loansįederal Direct Stafford Loans are federal student loans for eligible students to help cover the cost of higher education. Failure to do so may cause an award to be reduced unexpectedly when the over award is identified. If a student has received any financial aid, including but not limited to student loans, they must inform the financial aid office of such aid received as it may impact award eligibility at SCF. Loans awards may be reduced, even after disbursed which can create a debt to SCF if eligibility requirements are not maintained and/or a student’s Cost of Attendance is exceeded. SCF encourages you to review all information about loans before deciding to borrow and to borrow only what you need.