Stafford loans are the most common form of financial aid available to undergraduate,
graduate, vocational or professional students. Stafford loans are tax deductible
and must be applied for on a yearly basis using the
FAFSA form.
You are about to leave the Unison Credit Union website.
Unison does not in any way endorse sites linked from our website, and is not responsible
for their content, security or privacy statements.
Cancel »
Continue »
With the recently enacted Health Care and Education Affordability Reconciliation Act of 2010 (H.R. 4872),
the Federal Family Educational Loan (FFEL) Program has been eliminated. Private lenders, like Unison Credit
Union, no longer have a role in originating or funding federal Stafford, PLUS or Consolidation loans. Beginning
July 1, 2010 all new federal student loans will be issued via the William D. Ford Direct Loan Program. Contact
your school’s financial aid office for more information.
For questions or service related to an existing FFEL Loan secured through Unison Credit Union,
contact our chosen servicer, Great Lakes at 1-800-236-4300, or at www.mygreatlakes.org.
Learn more »
You are about to leave the Unison Credit Union website.
Unison does not in any way endorse sites linked from our website, and is not responsible
for their content, security or privacy statements.
Cancel »
Continue »
The two types of Stafford loans are:
- Based on financial need.
- Government pays interest while in school, during the grace period before payments
begin and during times of approved deferment.
- Repayment begins six months after graduation, dropping below half-time status or
withdrawing from classes.
- All eligible students qualify regardless of their income. Financial need is not
a factor.
- Interest on the loan is paid by the borrower and begins immediately. It can either
be paid while in school or deferred until a later date.