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Colin M asked:
I recently received a Stafford loan from my college for about $3500, but it says i need to pick my own supplier. All the banks im looking at only give their 2006 rates, which were around 6%. Sallie Mae is offering around 7.5% for the 2008 year. Is there anything out there lower than that?
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Tags: Banks, Low Interest Rates, Sallie Mae, Stafford College, Stafford Loan, Stafford Loans
September 20th, 2008 at 10:37 am
Interest rates for the Stafford loan are set by the government, so you won’t see much variation from lender to lender. The rate is currently fixed at 6.8%, and that is the interest rate Sallie Mae offers.
September 21st, 2008 at 4:09 am
When it comes to the financial aid process, people often ask “Where do I begin?” We’re here to help and guide you throughout this process. This page outlines the steps to applying for a Stafford Loan. Basic Stafford Loan Requirements are, You must have submitted a FAFSA. For subsidized Stafford Loans, you must have financial need as determined by your schoolbe sure to include the school’s FAFSA code (or prospective schools, if you are a high school student) to ensure that the results are sent to your school’s financial aid office.
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