Stafford Loans and Repayment Information

Student loans can assist students in paying for their education. Borrowing funds at a low interest rate is one way students take responsibility for their education. The federal government sponsors several different student loans, and others are bank-sponsored private loans. Regardless of the type of loan, Linfield determines loan eligibility and handles the processing of all applications. Linfield now has a free online tool that can help you compare loan options. You can sort results by interest rate, monthly payment, total cost of loan and more. Please click on the link for more information: Simple Tuition.

Stafford Loan Master Promissory Note  
Entrance Counseling Link    
Direct Loan Basics for Students

Linfield now participates in Federal Direct Stafford Loan Program

Linfield is now a participant in the Federal Direct Stafford Loan Program. This means that the US Department of Education will be your loan lender. You will be borrowing directly from the Federal Government. You must be enrolled in at least 6 credits and meet general eligibility requirements.

Student loans can assist students in paying for your education. Borrowing funds at a low interest rate is one way students take responsibility for their education. In addition to the Federal Direct Stafford Loan Program, there are bank-sponsored private loans. Regardless of the type of loan, Linfield determines loan eligibility and handles the processing of all applications.

SUBSIDIZED FEDERAL STAFFORD LOANS
Federal Stafford Loans are offered by the federal government. These loans are awarded on the basis of demonstrated financial need. The government will pay the interest on this loan while you are in school, for the first six months after you leave school, and when you qualify to have your payments deferred. The interest rate for the 2009-2010 academic year is fixed at 5.6%. You will have up to ten (10) years to repay the loan, depending on how much you borrow.

UNSUBSIDIZED FEDERAL STAFFORD LOAN
These loans are similar to the Federal Subsidized Stafford Loan, but are not based on financial need. The Federal government does NOT pay the interest, and the student is responsible for all interest associated with the loan. The interest rate is fixed and capped at 6.8%. You will have up to ten (10) years to repay the loan, depending on how much you borrow.

The following maximum limits apply to any combination of the Subsidized and Unsubsidized Stafford Loans:

Freshmen (0-29.99 credits)     $3,500.00
Sophomore (30-61.99 credits)     $4,500.00
Junior (62-93.99 credits)     $5,500.00
Senior (94+ credits)     $5,500.00

Independent students are eligible for The Federal Additional Unsubsidized Stafford Loan. Loan amounts are:

Freshmen/Sophomore    $4,000.00
Junior/Senior     $5,000.00

SUPPLEMENTAL UNSUBSIDIZED FEDERAL STAFFORD LOAN
All students who file a FAFSA are eligible for The Federal Supplemental Unsubsidized Stafford Loan in the amount of up to $2000. This loan is similar to the Subsidized Federal Stafford Loan, but is not based on financial need. The Federal government does NOT pay the interest, and the student is responsible for all interest associated with the loan. The interest rate is fixed and capped at 6.8%. You will have up to ten (10) years to repay the loan, depending on how much you borrow. Loan Payment Calculator