stafford loan lenders

Paying for College
1

<p>I started looking into stafford loan lenders, and i found the discovery student program that everyone was talking about with no origination, guarantor, and prepayment fees. However, it says that the subsidized interest rate is a fixed 6.0% for the next 10-25 years. However, on the official stafford loan website, it says that for 2009-2010, it's 5.6%; for 2010-2011, it's 4.5%; for 2011-2012, it's 3.4%, and from 2012-2013, it's 6.8%.</p>

<p>Does this mean that i will have to pay the difference in the interest rate fees for the subsidized stafford loan? Also, does anyone know of any other good lenders that i should look into for the stafford loan</p>

2

<p>6% was the 2008-2009 rate for subsidized Stafford loans. Any loans disbursed up before July 1 will be at that rate which is probably why it is still showing as the rate (loans are still being disbursed for summer aid) . Loans disbursed after that will be at the new rate. Unsubsidized Stafford loans, of course, are still at the 6.8% rate.</p>

3

<p>I would check with banks that you/your parents do business with. Citibank, Wachovia, and others offer Stafford and Plus loans. You can also look at your school’s preferred lender list.</p>