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Federal Stafford Student Loan
These funds are provided by a bank or savings and loan that
participates in the Federal Family Education Loan Program. Eligibility
for this loan is determined by the Northeast Kansas Technical College
Financial Aid Office using the results of the Free Application for Federal
Student Aid. The loan program has a subsidized component and an unsubsidized
component. Interest for the subsidized student loan is paid by the federal
government while a student is enrolled on at least a half-time basis and
during the six-month grace period following graduation or withdrawal from
school. Interest on an unsubsidized loan is the responsibility of the
student and will begin to accrue on the date of disbursement.
The interest rate on both a subsidized and unsubsidized student loan is
variable and can change every July 1, not to exceed 8.5%. All Stafford
Student Loans are subject to guarantee fees that are deducted from the
loan proceeds. Repayment on all Stafford Student Loans begins six months
after leaving school.
Under the subsidized loan, a first-year student may borrow up to $2,625 (if eligible). A second-year student may borrow up to $3,500 (if eligible). You must begin repaying the loan six months after leaving school. The loan is subject to guarantee fees that are deducted from the loan proceeds. Independent students may be eligible to borrow up to an additional $4,000 under the unsubsidized loan program.
For more information please call the Financial Aid Office at (800) 567-4890 or click on the Online Application link.
