Federal Stafford Loans
First Time Stafford Loan borrowers must complete both of the following to ensure your Stafford Loans pay into your account. Click the links below to get started:

The Federal Stafford loan is obtained from a lending institution and is insured by the federal government.  You are eligible for the Federal Stafford Loan if your financial aid award letter includes the Federal Stafford Loan and/or the Federal Unsubsidized Loan. Federal Stafford loans are loans in the student’s name.  The Stafford loan has a fixed interest rate, an origination fee and the payments are deferred while the student is enrolled.  You are required to begin repayment 6 months after you leave school or reduce your class load to less than 6 credits.  They are included on your award letter as either subsidized and/or unsubsidized based on information from your FAFSA.

Subsidized Stafford loans are awarded to students who demonstrate financial need based on information provided on the FAFSA.  The government pays the interest on this loan while the student is enrolled.  The loan has a fixed interest rate of 5.6% and an origination fee of 0.5% (a processing fee charged by the lender that is deducted from the loan before the funds are sent to the school).

Unsubsidized Stafford loans are for students who are not eligible to borrow the Subsidized Stafford Loan as determined by their financial need.  The difference is that you, rather than the federal government, are responsible for the interest payments while you are in school, however you have the option to defer payments. The interest will begin to accrue on the loan once the funds are released to Rider University by the lender.  The loan has a fixed interest rate of 6.8% and an origination fee of 0.5% (a processing fee charged by the lender that is deducted from the loan before the funds are sent to the school).

Additional Unsubsidized Stafford
Additional Unsubsidized Stafford is awarded based on a PLUS Pre-screen denial.  Many lenders offer an online PLUS Pre-screen. If a parent is denied, the student may be awarded additional Unsubsidized Stafford loans. 

Federal Perkins Loan
If your financial aid package includes a Federal Perkins Loan, expect to complete the appropriate paperwork and Promissory Note for the loan.  These forms will be mailed to you, or you may complete them at our office.