Federal Student Loans

Subsidized Stafford Loans

Undergraduate students who demonstrate financial need are eligible for the Subsidized Federal Stafford Loan. The federal government pays the interest while the student borrower is enrolled at least half-time in school, and during their six month grace period.  The interest rate on this loan is fixed at 3.4% during the 2013-2014 academic year.

Unsubsidized Stafford Loans

Graduate students and undergraduates who do not demonstrate financial need are eligible for the Unsubsidized Federal Stafford Loan. The student is responsible for the interest on the unsubsidized loans even during periods of enrollment. Borrowers may choose to defer the interest payments while in school and during their six-month grace period, but the interest will be capitalized. The interest rate is fixed at 6.8% during in-school deferment, grace period and repayment.

Loan Requirements

Emmanuel College participates in and processes all federal loans exclusively through the Federal Direct Loan Program.  To borrow a Federal Direct Stafford Loan, students are required to complete a Master Promissory Note (MPN) and Entrance Counseling with the Department of Education.  The MPN and Entrance Counseling are available either online, or by contacting the Office of Student Financial Services to have the forms sent via mail.

Annual Stafford Loan Limits