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115 South Street Middletown, NY 10940 (845)341-4190 fax (845)341-4194
1 Washington Center Newburgh, NY 12550 (845) 562-245 fax (845)220-4062
www.sunyorange.edu
2015-2016 Federal Stafford Loan Information Sheet
Student’s First Name __________________________________ Last Name________________________________ ID #________________________
Please initial each of the following statements:
The Federal Government is the lender of my Federal Stafford Loan at SUNY Orange.
A Federal Subsidized or Unsubsidized Stafford Loan is considered part of my Federal financial aid.
The interest rate for my Federal Stafford Loan is a fixed rate.
If I fail to complete and return my Federal Stafford Loan Master Promissory Note, my loan will not process.
The minimum number of applicable credits needed to maintain loan eligibility each semester is 6. If I am attending less than 6
credits (for any reason) when my loan money comes in, it will be returned to the lender.
Capitalization of interest adds unpaid interest to the principal balance of your loan.
I can change my Federal Stafford Loan repayment plan anytime during repayment.
I will begin repayment of my Federal Stafford Loan six months after dropping below half-time status, graduating, or withdrawing.
Deferments can be given for:
o Full time study in an eligible program
o At least half-time status in an eligible program
o Economic hardship
o Unable to find Full-time job
I must inform my lender of any change in:
o Name, address and telephone number
o Anticipated graduation date
o Enrollment status (dropping below 6 credits, transferring,
o withdrawing or taking a leave of absence)
Defaulting on a Federal Stafford Loan will result in:
o Late charges
o Adverse credit reports which may later prevent me
o from receiving a car loan or mortgage
o Not receiving any future financial aid
o Not receiving an income tax refund
o Legal Action
I am required to complete an Exit Interview when:
o My enrollment status drops below 6 credits
o I am no longer attending college
o When I graduate
I have several repayment options to repay my Federal Stafford Loan:
o Repay based on income
o 25 years (with over $30,000 in student loans)
o Graduated payments which increase over time
o 10 year standard plan
Electronic Certification Agreement. By providing your “electronic” student signature, student ID # and by selecting the “Accept" button, you consent
that all of the information reported is complete and correct.
Accept: ___
Student Signature:___________________________________________________ Date: ___/ ___/ _______
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WARNING: If you purposely give false or misleading information on the worksheet, you may be fined, be sentenced
to jail, or both.
