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Federal Stafford Loans

[Apply online through NHHELCO Now]

Who Can Apply?

Dependent and independent undergraduate or graduate students.

Eligibility

Student must complete a Free Application for Federal Student Aid (FAFSA).

Eligibility for Federal Subsidized Stafford must be determined prior to receiving an Unsubsidized Stafford loan.

Student must be enrolled at least half-time in a degree or certificate program at an eligible institution.

Interest Rate

For Undergraduate Students

For all loans first disbursed prior to 07/01/08 - 6.8% fixed.

For subsidized loans first disbursed after 07/01/08 - 6.0% fixed.

For subsidized loans first disbursed after 7/1/09- 5.6% fixed.

For all unsubsidized loans- 6.8% fixed.

For Graduate Students

For all loans, regardless of disbursement date - 6.8% fixed.

Fees

Origination Fee:

  • A Stafford loan first disbursed on or after 07/01/07, will have a maximum fee of 1.5%.

  • A Stafford loan first disbursed on or after 07/01/08, will have a maximum fee of 1%.

  • A Stafford loan first disbursed on or after 07/01/09, will have a maximum fee of 0.5%

Federal Default Fee: 1%

Fees are deducted from the loan proceeds prior to disbursement.

Origination and Default Fees Amounts:

Amount Borrowed

Prior to 7/1/08 – 2.5%

Beginning 7/1/08 – 6/30/09 – 2.0%

Beginning 7/1/09 – 1.5%

3,500

 $87.50

 $70

 $50.50

4,500

 $112.50

 $90

 $67.50

5,500

 $137.50

 $110

 $82.50

 7,500

 $187.50

 $150

 $112.50

 8,500

 $212.50

 $170

$127.50

  10,500

 $262.50

 $210

$157.50

Loan Limits

For Loans Disbursed On Or After July 1, 2008

Grade Level/Loan Type

Annual Loan Limit

Undergraduate Freshman

Dependent Student

Independent Student or Dependent Student w/ Parent Ineligible for PLUS Loan

Stafford (subsidized and unsubsidized)

$3,500

$3,500

Additional unsubsidized

$2,000

$6,000

TOTAL ELIGIBILITY FOR FRESHMAN

$5,500

$9,500

Undergraduate Sophomore

Dependent Student

Independent Student or Dependent Student w/ Parent Ineligible for PLUS Loan

Stafford (subsidized and unsubsidized)

$4,500

$4,500

Additional unsubsidized

$2,000

$6,000

TOTAL ELIGIBILITY FOR SOPHOMORE

$6,500

$10,500

Undergraduate Junior or Senior

Dependent Student

Independent Student or Dependent Student w/ Parent Ineligible for PLUS Loan

Stafford (subsidized and unsubsidized)

$5,500

$5,500

Additional unsubsidized

$2,000

$7,000

TOTAL ELIGIBILITY FOR JUNIOR OR SENIOR

$7,500

$12,500

Graduate and Professional Students

Dependent Student

Independent Student or Dependent Student w/ Parent Ineligible for PLUS Loan

Stafford (subsidized and unsubsidized)

N/A

$8,500

Additional unsubsidized

N/A

$12,500

TOTAL ELIGIBILITY FOR GRADUATE & PROFESSIONAL STUDENTS

N/A

$20,500

Aggregate Loan Limits

Undergraduate dependent student $31,000
(up to $23,000 may be subsidized)

Undergraduate independent student $57,500
(up to $23,000 may be subsidized)

Graduate or professional student $138,500
(up to $65,000 may be subsidized)

 

Interest

Subsidized

Interest is paid by the Government during in-school, grace and deferment periods.

Interest during status other than above is the borrower's responsibility.

Unsubsidized

Interest begins accruing at the first disbursement while the borrower is still in school.

All accrued interest is the responsibility of the borrower. Accrued interest will capitalize upon entry into repayment or at the end of forbearance and deferment periods. Accrued interest can be paid at any time.

Repayment Begins

Six months after student ceases to be enrolled on at least a half-time basis.

Repayment Terms

Standard term up to 10 years. $50 minimum payment per month.

Deferment Options

Available under certain circumstances.

NHHELCO Borrower Benefits*

0.25% interest rate reduction for auto debit.
 

 [Apply Online through NHHELCO Now]

When borrowing with NH Higher Education Loan Corporation (NHHELCO), borrowers receive:  

*The NHHEAF Network Organizations reserve the right to modify or cancel its programs at any time.