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There are two types of Stafford Loans:
- Subsidized loans - Available to students who demonstrate financial need. Eligible students can borrow a subsidized Stafford Loan to cover some or all of their need. For a subsidized loan, the U.S. Department of Education pays the interest while you're in school at least half-time for the first six months after you leave school (referred to as a "grace period"). During a period of deferment (a postponement of loan payments), the amount of your subsidized loan cannot exceed your financial need.
- Unsubsidized loans - Do not require students to demonstrate financial need. The US Department of Education does not pay interest on unsubsidized loans. Depending on your financial need, you may receive both subsidized and unsubsidized loans for the same enrollment period, but the total amount of these loans may not exceed the annual loan limit.
