Among the loans available to undergraduate and graduate students are Stafford loans. These loans are federal student loan programs awarded to students who apply for financial assistance. There are stafford loan limits The loans help students pay college tuition and the cost of books, room and board and other expenses including a computer. Research is a must when considering all types of education loans, including comparing as many private education loans as possible and read all the fine print.

Stafford student loans do not require a credit check on college students or their parents because the awards are in the student’s name. Stafford school loans do not require a cosigner as do private school loans.

To begin the process for securing a Stafford school loan, students must submit a Free Application for Federal Student Aid (FAFSA) to verify their eligibility for financial aid. The results of the FAFSA will inform the student of the amount of financial aid they are eligible to receive.

Each college listed in the FAFSA application for financial assistance will send an Award Letter to students. The Award Letter includes the financial package the college can offer from various sources. Once students decide to accept the financial package from one of the colleges, they must notify the college of their intent and can apply for a Stafford loan online. Students should notify the other colleges of their decision so the financial package offered to them can go to other students.

Stafford student loans are among the most affordable loans for college students because of low, fixed rates and payment deferral until after graduation. Beyond college, students can bundle Stafford loans into a federal consolidation loan with other loans.

ALSO SEE studentaid.ed.gov for additional information on federal and direct student loans