Stafford Loans

Federal Stafford Loans are available to qualified undergraduate and graduate students, and can either be unsubsidized or subsidized.

LOAN UPDATE for 2009 – ’10 School Year:
As you may know, multiple student loan lenders have exited the marketplace due to the recent student loan crisis. As a result, Student Lending Works has experienced a dramatic increase in the demand for our loans leading to the depletion of our tax-exempt funding, which is how we typically finance our low-cost loans.  

In order for us to continue making loans to you, we have entered into a short-term financing agreement with the U.S. Department of Education to ensure we have adequate funding for loans in the upcoming academic year. Other lenders have entered into these agreements as well. Based on the agreement with the U.S. Department of Education, the only discount they will support is:

  0.25% interest rate reduction for making payments       automatically with a checking or savings account.

Although we are currently facing unusual times, we pledge that once our tax-exempt funding becomes available again, you will be among the first in line to receive our superior discounts for the next academic year. 

This change will not affect loans you might have previously taken out with us or our commitment to the personalized customer service and individual borrower counseling you can expect to receive from Student Lending Works, the State of Ohio’s designated nonprofit student loan lender.   

Eligibility:
To be eligible for a Stafford Loan students must:

• Submit the Free Application for Federal Student Aid (FAFSA) and be certified as eligible by your college or university.
• Be enrolled (or accepted for enrollment) in school at least half-time at an eligible institution.
• Maintain “satisfactory academic progress” as determined by your school
• Not be in default on any federal education loan and/or owe money on a federal student grant.
• Have a valid Social Security Number
• Be a U.S. citizen or eligible non-citizen
  

Stafford Loan Rates and Terms

Other Benefits :

• No payments required while in school (at least half-time)
• No payments for six months after leaving school
• No credit check or co-signer required

Due to certain licensing requirements, Student Lending Works does not offer loans to residents of North Dakota.

Note: Student Lending Works reserves the right to change the terms and conditions of our loan programs at any time without notice. Your benefits will not be affected if your loan has already been disbursed.