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Loan Features

Direct Loan Interest Rates

Direct Loan Limits: Annual and Aggregate Lifetime

Student/Borrower Rights & Responsibilities

Stafford Loan Deferment, Forbearance and Forgiveness  

Loan Consolidation

Loan Servicing Centers for Students


Direct Stafford and GradPLUS Loan Counseling

Prior to the first disbursement and before graduation, Stafford and GradPLUS loan borrowers are required by Federal regulation to complete loan counseling. Stafford borrowers are typically required to complete entrance and exit counseling only once during a student’s educational experience unless a student has transferred from another institution or Stafford loan borrowing has gone inactive for over one year. GradPLUS borrowers are required to complete a separate counseling session.

Stafford and GradPLUS loan counseling may be completed online at the Department of Education Direct Loan website. Students required to complete loan counseling will be notified by email.


Direct Stafford Loan Repayment

Stafford Loan repayment is normally required to begin after a six (6) month grace period following an enrollment status of less than half-time. This includes less than halftime enrollment while in school, withdrawal or leaving school and upon graduation. There is no penalty to a student for early repayment of all or part of a Stafford loan.

Refer to the U.S. Department of Education Direct Loan website for more information regarding repayment options, plans, calculators, discharge and cancellation.

Examples of Typical Direct Stafford Loan Repayments (using fixed 6.8% interest rate)

Loan AmountStandard
(10-year repayment)
ExtendedGraduate (Estimate)Income Contigent - Single
(Est. w/ $25k annual inc.)
Per Month Total Repaid Per Month Total Repaid Per Month Total Repaid Per Month Total Repaid Per Month Total Repaid
$3,500 $50 $4,471 Not Available Not Available $25 $5,157 $27 $6,082 $25 $6,405
$5,000 $58 $6,905 Not Available Not Available $40 $7,278 $38 $8,703 $36 $9,150
$7,500 $83 $10,357 Not Available Not Available $59 $10,919 $57 $13,055 $54 $13,725
$10,500 $121 $14,500 Not Available Not Available $83 $15,283 $80 $18,277 $76 $19,215
$15,000 $173 $20,714 Not Available Not Available $119 $21,834 $114 $26,110 $108 $27,451
$40,000 $460 $55,239 $227 $83,289 $316 $58,229 $253 $72,717 $197 $84,352

*Source: U.S. Dept. of Education

Repayment information is included in the required loan entrance and exit counseling sessions as well as on the Direct Loan Master Promissory Note.

Last edited by: chea 07/31/2014


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