Financial Aid – Federal Stafford Student Loan
- Deferred while the student is in school
- Fixed Interest Rate of 6.8%
- Subsidized (interest paid by the government while the student is in school) or Unsubsidized (interest accruing while the student is in school) is determined by the FAFSA calculation
- Fees range from 0-2% of the principal loan amount, depending on which lender is chosen
- Repayment - when the student graduates or drops below half-time status, they have a six-month "grace period" before starting repayment
Lender Selection List
There are two online forms you must fill out to complete the paperwork for the Federal Stafford Loans: Entrance Counseling and the Master Promissory Note.
When you click a link below, you will be able to complete these forms.
Please choose a lender that you would like to service your Federal Stafford Loans.
Citibank - 826878
- 1% Origination fee
- 1% Default fee
- 0.25% interest rate reduction with E-Z Pay (auto-debit from bank account)
Arvest - 800301
Secondary Market Servicer: Oklahoma Student Loan Authority
- 0% Origination Fee
- 0% Default Fee
- 0.25% interest rate reduction for automatic payment during repayment of Stafford Loan
Chase Bank - 803000
- 1% Origination Fee
- 1% Default Fee
- 0.25% interest rate reduction for borrowers who enroll in auto-debit ACH repayment program.
Liberty
Bank - 147509
Secondary Market Servicer: Arkansas Student Loan Authority
- 1% Origination Fee
- 1% Default Fee
- 0.25% interest rate reduction for auto debit participation
SallieMae Educational Trust - 802218
- 1% origination fee.
- 1% Default fee.
- Earn Loan Credits: Sallie Mae Education Trust Borrowers can earn credits applied to their loan account equal to 4% of each of the first 12 payments made as initially scheduled.
Commerce Bank - 813979
Secondary Market Servicer: Oklahoma Student Loan Authority
- 1% origination fee.
- 0% Default fee.
- 0.25% Interest Rate Reduction for signing up for auto-debit of monthly payments
Other Lender
- If you wish to use a lender that is not on this list complete the application by clicking on the above link (“other lender”). Then contact Megan Riddle, MRiddle@jbu.edu or 877-528-4636 ext. 22, to provide her with your lender choice.