How much should I borrow through the federal Stafford Loan Program?
Do not borrow more than you need. How much do you need? You’ll want to talk that over with your family. If you received our scholarship support then you also received our “Financial Aid Handbook”. Take a look at the chart on page 9 to calculate your family’s share of your 2009-10 Swarthmore bill for the direct charges of tuition, fee, room, and board. Simply, your family will need to pay the difference between the direct Swarthmore charges of $49,600 and your Swarthmore Scholarship — half each semester. Note: Many lenders will retain 2% of your loan request to pay for their administrative expenses so you’ll need to request a bit more than you need. For example, if your lender retains 2% and you request a federal Stafford Loan of $3,500, your lender will disburse $3,430 for your use at Swarthmore.
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- If I borrow funds under the Federal Family Educational Loan Program (FFELP), i.e. Stafford loans, when do I have to begin to repay these funds?
- How much money can an independent undergraduate student borrow through the Federal Stafford loan program?
- How much can I borrow through the Federal Direct Stafford Loan program?