The Stafford Loan is a federal loan offered as part of your financial aid package. Stafford loans issued by Northwestern University can only be made to graduate and professional students.
** All income generated by the Stafford loans where the lender is Northwestern University is used for grants and scholarships.
The chart below provides a partial list of the terms and conditions for the Federal Stafford Loan:
- General Information
- Interest Rates
- Repayment Information
Since these details vary by origination date and exact loan type, borrowers should refer to their promissory note for the actual terms and conditions of their loans.
| General Information |
|
|---|---|
| Loan types |
|
| Lender | Northwestern University |
| Servicer | Sallie Mae |
| Borrower | U.S. graduate and professional students. |
| Co-maker | No |
| Application process |
|
| Promissory Note | The MPN serves as your promissory note for the duration of your education and requires only one signature upon application. The loan amount will be for the amount you accept on your financial aid award letter. If your Stafford eligibility increases over the course of the academic year, you will be required to confirm your acceptance of the additional loan offer before the loan will be processed. |
| Maximum Loan Amounts | See the Borrower's Rights and Responsibilities section of the Stafford Loan Application/MPN. |
| Fees |
Application fee: None |
| Loan disbursement | An equal portion of your annual loan amount is applied to your student account each term unless otherwise specified. |