Stafford loan basics
Follow this link to the recorded webinar of the Stafford loan basics.
This course describes the fundamentals of the Federal Stafford Loan Program and provides a basis for more specific training courses. Participants learn the basics of determining student eligibility. The course content is at the beginner level.
Topics covered
- history of the program
- what are Federal Stafford loans
- subsidized Stafford basic eligibility and determining need
- unsubsidized Stafford eligibility
- interest capitalization
- loan limits
- interest rates
- fees
- repayment schedules
Who should attend
New student loan and financial aid personnel, including bursars, student accounts, registrars, bank loan officers, servicing and collection personnel, and support staff.
At the conclusion of this class you will be able to:
Explain
- the differences between the two types of Stafford loans
- basic borrower eligibility requirements
- the components of cost of attendance, estimated financial aid, and expected family contribution
- interest capitalization
- how interest rates are calculated
Give
- current interest rates and fees
Identify
- the base loan limits and the additional unsubsidized Stafford loan limits (annual and aggregate)
Compute
- the amount of a check after deducting the guarantee and origination fees
Identify and discuss
- the four types of repayment schedules
Course materials
