Federal Stafford Loan

Lake Shore Savings can help you get the cash you need for school with the Federal Stafford Loan!

Subsidized Federal Stafford Loan

The Subsidized Federal Stafford Loan is a long-term, variable-rate, low-interest loan. The interest is paid by the federal government while the student is enrolled at least half-time. It is available to both undergraduate and graduate students. FAFSA is required.

The Subsidized Federal Stafford Loan has a repayment term of up to ten years. No payments are due while the student is enrolled at least half-time. There is a grace period of 6 months before repayment begins after the student ceases to be enrolled at least half-time. The minimum monthly payment is $50.

Borrowers who receive disbursements on or after July 1, 1994 will have an annual variable rate which will not exceed 8.25%.

A 3.0% origination fee applies.

How to Apply

Unsubsidized Federal Stafford Loan

The Unsubsidized Federal Stafford Loan is a long-term, variable-rate, low-interest loan. It is available to both undergraduate and graduate students. Additional funds may be available for eligible students. Your school will determine your eligibility. FAFSA is required.

The Unsubsidized Federal Stafford Loan has a repayment term of up to ten years. Payments of interest are the responsibility of the borrower while they are enrolled in school and during the 6 month grace period before repayment begins after the student ceases to be enrolled at least half-time. Students can choose to pay interest while in school or the interest can be capitalized. The minimum monthly payment is $50.

Borrowers who receive disbursements on or after July 1, 1994 will have an annual variable rate which will not exceed 8.25%.

A 3.0% origination fee applies.

How to Apply

Click here for a side-by-side comparison of available student loans.

To be sure you have your funds when you need them, ask your school's Financial Aid Administrator for deadlines.