Unsubsidized Federal Stafford Loan. The Unsubsidized Federal Stafford Loan is a non-need-based loan. The interest rate is fixed at 6.8%. The borrower is responsible for the interest that accrues on the Unsubsidized Stafford Loan. A loan origination fee will be assessed. Repayment begins following a six month grace period. The grace period will begin after enrollment ceases or student drops below half-time enrollment. Minimum monthly payment is $50 per month. Standard repayment period is ten years. To apply for an Unsubsidized Federal Stafford Loan, the student must first complete a Free Application for Federal Student Aid (FAFSA) which will be used to determine borrower eligibility. The student must also complete a Master Promissory Note. First-time Stafford Loan borrowers must complete entrance counseling. All students who borrow a Stafford Loan are required to attend exit counseling.
