ESF Stafford Loan for Students

With ESF as your lender, you will have fast, efficient processing of your loan and convenient online loan applications and loan tracking.

To qualify for a Federal Stafford Loan, you must submit a FAFSA (Free Application for Federal Student Aid). Click here for more information on the FAFSA. After your FAFSA is processed, your school will review the results and will inform you about your loan eligibility. You also will have to sign a promissory note, a binding legal document that lists the conditions under which you're borrowing and the terms under which you agree to repay your loan.

Types of Federal Stafford Loans:
Both types of Stafford Loans require completion of the FAFSA annually.

(a) Subsidized - Eligibility is based on financial need and the federal government pays interest on the loan until repayment.

(b) Unsubsidized - Eligibility is not based on financial need. You are responsible for paying the interest, although payment may be deferred while you are in school.

Annual Loan Limits for Federal Stafford Loan:

Dependent Students (except students whose parents cannot borrow a PLUS Loan)

Independependent Undergraduate Students and Dependent Students whose parents cannot borrow a PLUS Loan

Graduate and Professional Students

Aggregate Stafford loan limits: (effective July 1, 2008)
Dependent Undergraduate: $31,000 (no more than $23,000 of which can be subsidized)
Independent Undergraduate: $57,500 (no more than $23,000 of which can be subsidized)
Graduate and Professional: $138,500 (no more than $65,500 of which can be subsidized)

Stafford Loan Fees and Interest Rate
There are two federal fees associated with a Stafford Loan which will be deducted from the amount you borrow. 

For loans guaranteed on or after April 1, 2008, and disbursed prior to July 1, 2008:

• 1.5% origination fee
• 0% to 1% default fee, based on guarantor of the loan

For loans disbursed on or after July 1, 2008:

• 1% origination fee
• 0% to 1% default fee, based on guarantor of the loan

Stafford Loans have a fixed interest rate of 6.8% set by the federal government. The interest rate for subsidized undergraduate Stafford Loans will be 6.0% for loans disbursed on or after July 1, 2008.

Ready to apply? Click here for the three simple steps to your loan.

Information Release Form
Federal Regulations require Education Services Foundation Student Loan Servicing (ESF) to obtain written permission from you in order to release your account information to another person, including your parents, or company. In order for our representatives to release your account information, ESF must have your written authorization on file. If you would like to give your authorization to release your account information to a third party, please click here to print out the form which you must complete and return to ESF. Without your written consent, ESF will not release your information.To submit the form, you may mail it to ESF, P. O. Drawer 55909, Jackson, MS 39296 or FAX it to 601.981.6114.

If you have any questions on Stafford Loans, please contact us at 800.986.4322 or send an email.