Federal Stafford Loans
- Also known as the Federal Family Education Loan Program or FFELP
- Repaid over time (with interest) after you cease attending Metropolitan at least half-time
- Two types of Stafford loans are available to students. Both allow you to wait until after you are done with school to make payments.
- Subsidized loans: the Federal government pays the interest while you are in school, in your grace period, and during any deferment.
- Unsubsidized loans accrue interest throughout the life of the loan. The interest accumulates and is later added to the principal balance of the loan.
Interest Rates on Federal Stafford Loans:
2009-2010 Academic Year:
5.6% (Fixed, Subsidized for Undergrad Borrowers)
6.8% (Fixed, Unsub Undergrad and Sub and Unsub Graduate Borrowers
Accept Your Stafford Loans >>>
Federal PLUS Loans for Parents
For parents of dependent undergraduate students to help pay for school. Payments on the loan begin shortly after the loan is disbursed.
Interest Rates on Federal PLUS Loans for Parents:
2009-2010 Academic Year:
8.50% (Fixed)
Apply for a Parent PLUS Loan >>>
Federal PLUS Loans for Graduate Students
Also known and the GradPLUS Loan. For graduate students that need funding beyond their Federal Stafford loans. Students must take at least 4 graduate level credits each term.
Interest Rates on Federal PLUS Loans for Graduate Students:
2009-2010 Academic Year:
8.50% (Fixed)
Apply for Graduate PLUS Loan >>>
For Financial Aid questions, please contact the Gateway Student Services Center at 651-793-1414 or email through Ask Us.