A Stafford loan is a subsidized federal loan given to graduate and undergraduate students in all parts of the country including Washington. Stafford loans are very affordable because they have low interest levels that are fixed. For example, graduate students can take advantage of interest rates as low as 6.8 percent. Undergraduate students can take advantage of interest rates between 3.4 and 5.6 percent. Unlike non federal student loans in Washington, a Stafford loan does not require collateral, credit checks or application fees. Call our representatives today to learn more.
Federal student loans are college loans issued to students in Washington and other states by the federal government that come with low interest levels and don't need to be repaid until you have received your diploma. When you submit a Free Application for Federal Student Aid (FAFSA), the Department of Education generates a student aid report that includes the types of federal loans for which you qualify in Washington. You have to demonstrate at least some financial need to be eligible for federal aid. The government examines the assets and income of you and your parents to determine your financial need.
To be considered for student financial aid in Washington, you will need to submit a FAFSA (Free Application for Federal Student Aid). After you submit the FAFSA, you'll be considered for federal student loans, work study and college grants. The Department of Education determines the eligibility guidelines for student loans in Washington. They'll consider a number of factors such as income, net assets, number of family members, and living expenses when identifying your financial need. Contact our pleasant representatives for more information.
There are three different kinds of federal student loans issued by the federal government that are available to students attending college in Washington. These loans are the Parent PLUS loan, Stafford loan and private student loans. Stafford loans can be taken out under the student's name. This kind of loan does not require collateral or credit checks. The second loan (Federal Parent PLUS Loan) is aimed toward parents of undergraduate students. With a Washington college student loan, parents can borrow up to 100% of their child's tuition. Third, private student loans are credit-based, unsecured loans available to Washington students.
Before you apply for a private student loan, make sure you've taken advantage of all your federal financial aid and free-money options first. Because Washington private student loans are costlier than federal student loans, you will want to take advantage of federal student loans before you apply for non federal student loans. Since there there are many different choices for financial aid, a private student loan should be your last resort. Contact our representatives for additional information about student loans in Washington.