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Federal Stafford - There are two types of Federal Stafford Loans, subsidized and unsubsidized. If you qualified for a subsidized (need-based) Federal Stafford Loan, the federal government pays the interest on the loan while you are enrolled in school at least half time, in deferment, or in a grace period. However, if you borrow an unsubsidized (non-need-based) Stafford Loan, you are responsible for the interest during in-school, deferment, and grace periods. The interest rate is fixed at 6.8%. All other provisions of the two loans are identical unless otherwise noted.
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