FEDERAL STAFFORD LOANS:

Federal Stafford Loans are available through the the William D. Ford Federal Direct Loan (Direct Loan) Program. The Direct Loans are either subsidized or unsubsidized.

A subsidized loan is awarded on the basis of financial need. You will not be charged any interest before you begin repayment. The federal government "subsidizes" the interest during these periods.

An unsubsidized loan is not awarded on the basis of need. You'll be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it was be capitalized--that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount. This will increase the amount you have to repay. If you choose to pay the interest as it accumulates, you'll repay less in the long run.

You can receive a subsidized loan and an unsubsidized loan for the same enrollment period.

After receiving your award notification, you must fill out a loan request form and for first time borrowers at MTSO you must also click on the links below to complete the Entrance Counseling and Master Promissory Note.