1. First submit the FAFSA.

2. Contact your financial aid office and tell them that you would like a Stafford Loan from Student Loan Funding, lender code 831455.

3. Typically your school will initiate the application and give you instructions on how to complete the process.

For loans disbursed 7/1/08–6/30/09, the interest rate for any Stafford Loan for graduate students and unsubsidized Stafford loans for undergraduate students is fixed at 6.8%; the rate is 6.0% for subsidized Stafford loans for undergraduates.
For all Stafford loans first disbursed 7/1/06–6/30/08, the interest rate is fixed at 6.8%.

For loans issued 7/1/1998–7/1/2006, the interest rate is variable and resets every July 1. The in-school interest rate based on the 91-day T-bill + 1.7% and the repayment interest rate is based on the 91-day T-bill + 2.3%. The rate is capped to never exceed 8.25%.

Loan Overview »

Federal Stafford Loan Master Promissory Note »

Student Loan Funding Lender Code: 831455

Borrowers who select Student Loan Funding (lender code 831455) as their Stafford loan lender receive these valuable benefits*:

0.25 percentage point interest rate reduction for automatic debit

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AND BORROWER BENEFITS AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN DISBURSEMENT DATE TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING LOAN PROGRAMS, INCLUDING BORROWER BENEFITS.

*Subject to the above, benefit is available on loans guaranteed 6/9/08–6/30/09. Assuming the loan is serviced by Sallie Mae, the benefit  remains available during active repayment for as long as the borrower’s monthly payment is successfully deducted from his/her bank account. If the loan is not serviced by Sallie Mae, other restrictions may apply as determined by the U.S. Department of Education.