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 Federal Stafford Loans

Stafford loans are the most common  source of education loan funds. They are available to both graduate and undergraduate students.

Stafford Loans come in two types:

• Subsidized (need-based). The federal government pays the interest on these loans while the student is in school and during the grace period before repayment begins.

• Unsubsidized (available for students who do not qualify for subsidized loans). The borrower is responsible for the interest on these loans as soon as the loan is taken out. Interest may be deferred until 6 months after graduation, or if student drops below ½ time or the student is no longer in school.

Eligibility

You are eligible if you meet the following conditions:

• Currently enrolled at least half-time;

• A citizen or national U.S. or a permanent resident; and

• Meet other eligibility criteria presented in the Federal Stafford Loan application packet.
  

  Application Options

  Once you complete your FAFSA, your school will send you an award letter specifying different types of aid you are eligible to receive and will provide you with application instructions. If you have additional questions, please call us at 1-940-872-2221 Ext 4103. You may also e-mail questions to Luke.Lemons@legend-bank.com.
  
  Please note:
  If you choose Legend Banks you lender for your Federal Stafford Loans, enter the Legend Banklender code on your application. Legend Bank's lender code is 810785.