Federal Direct Stafford Loans

The Federal Direct Unsubsidized Stafford Loan  ("Stafford") program is the most readily available of the federal loans for GW Law students. 

Quick Facts

  • Interest rate: Annually fixed, currently 5.31% for loans disbursed from July 1, 2016, to June 30, 2017
  • Origination fee: adjusted annually, currently 1.068% , deducted proportionately from each disbursement.
  • Annual maximum: $20,500 per year.
  • Aggregate maximum: $138,500 graduate and undergraduate.
  • One lender: the Department of Education, for borrowing and repayment
  • No bank or guarantor involved
  • Servicer: an agent of the Department of Education; not sold to a third party.
  • At repayment, accrued interest is capitalized, i.e., becomes part of the principal amount borrowed
  • Standard repayment: ten years, unless payments are extended by loan consolidation or other repayment plan
  • Consolidation with Federal Perkins Loans and Federal Direct GradPLUS Loans, repayable over a longer time period, depending upon amount borrowed
  • Early repayment penalty: None
  • If you reduce your enrollment status, withdraw, or take a leave of absence from the law school, you may enter repayment sooner.
  • Federal loans qualify for deferments and forbearance options as well as death and disability provisions.

How to Apply for Federal Loans