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The Stafford Loan is a federal loan offered as part of a financial aid package for graduate and professional students. Undergraduate students may be awarded the loan, but they must select a lender other than Northwestern University.

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 for their loans.

• General Information
• Interest
• Repayment

Interest Rate Information
Rate type	Loans disbursed before July 1, 2006 are variable Loans disbursed on or after July 1, 2006 are fixed
Current rates for loans disbursed before July 1, 2006	Time period	2007 - 08	2008 - 09
	In school	6.62%	3.61%
	In grace period	6.62%	3.61%
	In deferment	6.62%	3.61%
	In repayment	7.22%	4.21%
Current rates for loans disbursed after July 1, 2006	Time period	2007 - 08	2008 - 09
	In school	6.8%	6.8%
	In grace period	6.8%	6.8%
	In deferment	6.8%	6.8%
	In repayment	6.8%	6.8%
Rate cap	8.25% (if variable), 6.8% (if fixed)
Accrual	Time period	Subsidized	Unsubsidized
	In school	No	Yes
	In grace period	No	Yes
	In deferment	No	Yes
	In repayment	Yes	Yes
	Capitalization	Yes, after forbearance	Yes, after grace and forbearance