Loan Details:

Graduate Students may borrow up to $20,500.00 in Stafford Loans each year. The Interest Rate for Federal Stafford Loan Lenders is set by the Federal Government and is the same for all FFELP (Federal Family Education Loan Program) Lenders. It is a fixed interest rate of 6.8% for both subsidized and unsubsidized loan thru June 30, 2013.

In addition to Stafford Loans, Graduate Students may borrow additional funds up to the Cost of Attendance, less other financial aid, as determined by the school, through the Federal PLUS Loan Program. This is a credit-worthy loan; Interest Rate for Graduate PLUS Loans is fixed at 8.5%.

The Federal Government pays the interest during school and certain other periods for Subsidized only. Borrowers have the option of paying the deferred interest on Unsubsidized Loans while in school.

How to Apply:

Complete the Free Application for Federal Student Aid (FAFSA)

Complete a MyEd student loans NEW Stafford Loan MPN
or Return to a Loans by Web™ Stafford Loan MPN

and/or the Grad PLUS MPN
or Return to a Loans by Web™ Grad PLUS MPN

**Due to our August 1, 2009 temproary suspension of all FFELP loan programs, all MPN links have been temporarly removed.**

For security reasons, a FAFSA PIN will be required to E-sign your MPN. If you do not have or recall your PIN, visit the FAFSA PIN Web Site. Additionally, the option to print, sign and mail, or have an MPN mailed to you for your signature and return will be available.

Note: MPN (Master Promissory Note – Loan Application)
MyEd student loan’s funding process is administered by Panhandle-Plains Student Loan Center (PPSLC). A school’s preferred Graduate Loan Application Process is generally posted on the financial aid web site.

Follow the Loan Process through your school’s Financial Aid Office. Some schools may provide a list (paper or electronic) of lenders for you to choose from; if MyEd student loans is not listed as an option, contact the Financial Aid Office and let them know you have chosen MyEd student loans, Lender – 834395, as your Stafford and/or Graduate PLUS Loan Lender.

Repayment:

Stafford Loans enter repayment after you graduate, leave school, or drop below half-time enrollment, you have a onetime grace period of 6 months prior to your 1st payment. The repayment periods are generally set at 10 years.

Grad PLUS Loans enter repayment when the loan is fully disbursed; most often an Academic Year Loan will be disbursed half in the fall and half in the spring. The first payment is usually due 60 days after the loan is fully disbursed (within 60 days after the second disbursement) in the spring. However, Graduate Students are eligible for an In-School Deferment for Undergraduate Stafford Loans and Grad PLUS Loans while in school with a minimum of half-time enrollment.

MyEd student loans offers many resources to assist our borrowers with their individual repayment needs through our Deferment and Forbearance options, and personalized counseling, through our servicer, PPSLC.

PDF Deferment Forms:
Economic Hardship Deferment
Education Related Deferment
In-School Deferment
Loan Discharge Application: Total and Permanent Disability Military Deferment
Military Deferment
Parental Leave/Working Mother Deferment
PLUS Borrower with Dependent Student Deferment
Public Service Deferment
Unemployment Deferment

Forbearance - A temporary suspension of payments; or an extension of time for making payments.

Additional repayment options may be available; Contact MyEd student loans for details.

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