Loan Details:

The Interest Rate for all 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 that is set on July 1 of each year. The rates for July 1, 2009 to June 30, 2010 are:

6.0% Subsidized Stafford Loans
6.8% Unsubsidized Stafford Loans

Loan Limits You can receive a subsidized loan and an unsubsidized loan for the same enrollment period as long as you don't exceed the annual loan limits and the cost of attendance as determined by the school. The following are based on full-time attendance.

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 loan NEW Stafford Loan MPN
or Return to a Loans by Web™ Stafford Loan MPN

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.

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

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

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 Loan Lender.

In addition to Stafford Loans, Parents of Dependent Undergraduate Students who are in need of additional funds to cover the cost of attendance may want to consider applying for a Parent PLUS Loan.

Repayment:

After you graduate, leave school, or drop below half-time enrollment, you have a one time grace period of 6 months prior to your 1st payment.

The repayment period is at least 5 years for borrowers but no more than 10 years from the date the first payment is due.

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 Request
Loan Discharge Application: Total and Permanent Disability Military Deferment
Parental Leave/Working Mother Deferment
Military Deferment
Public Service Deferment
Unemployment Deferment

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

Deferments and Forbearances must be requested in writing, by completing the appropriate form or by calling MyEd student loans. Additional repayment options may be available; Contact MyEd student loans for details.

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