This federal loan enables undergraduate and graduate students to borrow money directly from a bank, credit union, savings and loan association, or other participating lenders. It is a fixed-interest-rate loan at 6.8%. There is a six-month grace period from the time the student is no longer taking a minimum of six trimester credits until the student must start making payments. The U.S. Department of Education subsidizes or pays the loan’s interest while the student is enrolled at least half-time, during the six-month grace period, and during certain deferment periods. FHCHS students are eligible to borrow the following amounts:

Eligibility for the Federal Subsidized Stafford Loan is based strictly on need as determined by the financial information provided by the student and/or parent on the FAFSA. Total financial aid, including scholarships, grants, loans, work-study, etc., cannot exceed documented educational need. The Master Promissory Note is available online at www.FHCHS.edu or at the Financial Aid Office and must be certified by the Financial Aid Office while the student is enrolled. The Master Promissory Note only needs to be completed once, unless the student decides to change his or her lender.

Students requesting the Federal Stafford Loan for the first time at FHCHS must complete an Entrance Loan Counseling session online at www.FHCHS.edu before disbursement of student loans is made. The Financial Aid Office can hold the loan dollars for only three business days from the day they are received; therefore, it is to the student’s advantage to respond promptly when contacted regarding this loan counseling session. Students withdrawing from school, as well as those who graduate, must complete an Exit Loan Counseling session online at www.FHCHS.edu in which important payback information concerning their loan is covered.

The loan program and guaranteed fund authorizes a guarantee fee up to 1.5% and a default fee of 1% of the principal that can be charged to the student borrower. This amount will be deducted from the loan proceeds if the lender charges the student borrower. The Master Promissory Note cannot be processed until all requested supporting documentation is received and analyzed by the Financial Aid Office.

To see when the dollars have been credited, the student may look online at my.FHCHS.edu, MARS (My Academic Resource System).

Students are not eligible for the Federal Subsidized Stafford Loan while on Provisional acceptance status. Students on Probation will become eligible during their second trimester if they have a 2.00 GPA and have successfully completed 60% of the credits attempted. In most cases, the loan will be retroactive to the beginning of their first trimester.