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Rules for receiving strafford loans

Date: Wed, 09/14/2005 - 12:54

Submitted by 4u.bryan
on Wed, 09/14/2005 - 12:54

Posts: 819 Credits: [Donate]

Total Replies: 5

Rules for receiving strafford loans


Receiving unsubsidized Stafford loan is not so hard. The applicant should be –
  • A U.S. citizen or eligible non citizen
  • Enrolled for at least half-time in an eligible school
  • Current on existing Federal loans
To receive a subsidized Stafford loan, the student should qualify the need analysis process, since subsidized Stafford loan is completely need-based.

For more information you can check the forum discussion on student loan eligibility.

Regards,
Bryan


Hi Sophia,

Two types of federally funded student aid are there, one is subsidized and the other is unsubsidized. Subsidized loan is need-based; the borrower's financial status is analyzed for loan approval.

Unsubsidized student loan is not need-based. Any body can apply for it.

Distribution of fund based on merit is not so popular, almost vanished, since the prime motto of government is to help those who are willing to continue their education but unable to bear the cost.


lrhall41

Submitted by 4u.bryan on Tue, 09/20/2005 - 18:24

( Posts: 819 | Credits: )


Federal aid is neither merit or credit based. You must maintain satisfactory academic progress to keep getting federal aid....this basically means you must maintain a certain GPA and pass a majority of your classes.

Grants and subsidized staffords loans are need based. However unsub and PLUS loans are not.


lrhall41

Submitted by SOAPLADY on Wed, 09/26/2007 - 20:20

( Posts: 17315 | Credits: )