All students planning to participate in the Federal Stafford Loan Program must borrow through the Federal Direct Loan Program.
If 12 on time monthly payments are not made after entering repayment, the instant rebate will be reapplied to the principal of the loan. The interest rates for Direct Subsidized Loans for undergraduates with a first disbursement date between July 1, 2010 and June 30, 2011 is 4.5%; the interest rates for Direct Subsidized Loans for graduate students and Direct Unsubsidized Loans for all students is 6.8%. If you have questions regarding your Federal Direct Stafford Loans, you may contact the Direct Loan Customer Service Department via www.studentloans.gov or at 1(800) 557-7394, Monday thru Friday 8 a.m. to 8 p.m..
Please take the following Steps in order to satisfy this requirement:Complete your Direct Loan Master Promissory Note online.