What ARE Stafford Loans?
Federal Stafford Loans are low-interest (currently fixed at 6.80%) funds that must begin to be repaid at a future date, usually six months after you graduate, leave school, or become enrolled in less than 6 credits in a given semester.
At Red Rocks Community College we participate in the Federal Family Education Loan (FFEL) program, which means all funds are borrowed from a private lender, a banking institution of your choice, as opposed to directly from the government as in Direct Loan Programs. FFEL program Stafford Loan funds can be used for education-related expenses such as tuition, fees, books, living costs, transportation, childcare, etc.
Stafford Loans may be need-based on non-need-based and most people are able to borrow if all other eligibility requirements are met.
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