Scholarships, Grants, Loans: Federal Family Education Loans - Use Restrictions, Credentials, Criteria

Federal Family Education Loans - #84.032

Uses and Use Restrictions

To help defray costs of education at a participating school. Repayment on Federal Stafford Loans begins six months after the student ceases to carry at least one-half the normal full-time academic workload. Repayment of principal and interest on PLUS Loans generally begins within 60 days of disbursement of the last installment; repayment of a Consolidation loan begins within 60 days after the proceeds of the loan have been used to discharge the liability of the borrower on the loans selected for consolidation. Deferments and forbearance of payment may be granted for certain authorized periods.

Credentials/Documentation

For the Federal Stafford Loan, Unsubsidized Stafford Loan, and PLUS Loan programs, the student will need certification of eligibility from the school, and may be required to supply documentation to verify the accuracy of data used in the Stafford Loan need analysis. 87. This program is excluded from coverage under OMB Circular No. A-87.

Criteria for Selecting Proposals

Not Applicable.

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