AOAAdvantage Stafford Loans
Terms and Conditions
Eligibility
You must be a U.S. citizen or permanent resident and be enrolled full- or half-time as an undergraduate or graduate student in an accredited school.
Loan Limits
Dependent Undergraduate Student
| 1st year | $3,500 |
| 2nd year | $4,500 |
| 3rd year | $5,500 |
| 4th year | $5,500 |
Independent Undergraduate Student
| 1st year | $7,500 (maximum of $3,500 subsidized) |
| 2nd year | $8,500 (maximum of $4,500 subsidized) |
| 3rd year | $10,500 (maximum of $5,500 subsidized) |
| 4th year | $10,500 (maximum of $5,500 subsidized) |
Graduate and Professional Student
$20,500 for each year of study (maximum of $8,500 subsidized)
Interest Rate
For loans disbursed on or after July 1, 2006:
During in-school, grace or deferment period: Fixed 6.8%
During repayment period: Fixed 6.8%
Subsidized interest is paid by the federal government prior to entering repayment (during in-school, grace, or deferment periods). Unsubsidized interest is paid by the borrower throughout the entire life of the loan. Interest accrued while in a period of non-payment, will be capitalized (added to the principal balance of the loan).
Fees
Origination fee:1.5%
Default fee: 1.0% (unless waived)
Repayment Terms
Loan(s) may be repaid over a maximum of 10 years. Repayment begins six months (grace period) after the borrower graduates, leaves school, or drops to less than half-time status.
Information contained in this Web site is subject to change without notice, based on regulatory changes to the Federal Higher Education Act and/or upon financial market volatility impacting the ability of lenders to finance student loans. Benefits offered on loans already disbursed will not change.
Why Choose Us
- An AOA member benefit
- Low, fixed interest rates
- Flexible repayment plans
- Fully automated, online account access
- Superior customer services from a nonprofit lender