Please Note:
Stafford Loan interest rates for loans first disbursed July 1, 2006 or later is fixed at 6.80% while in school, during grace and deferment periods, and during repayment.
*For information on loans that were disbursed between July 1, 1998 to June 30, 2006, please contact Regions Educational Loan Center at 1-800-858-7822.
Backed by the federal government, Stafford Loans fall into two categories: Subsidized and Unsubsidized. Subsidized Stafford Loans are based on financial need and the government pays the interest that accrues on these loans while you are in school. Unsubsidized Stafford Loans aren’t based on need and you are responsible for the interest on the loan as soon as it is taken out.
Money-saving borrower benefit
When you get a Stafford Loan from Regions Bank you can take advantage of the following benefit:
- Direct RepaySM – Borrowers who authorize the automatic debit of funds from their checking or savings accounts to cover their monthly education loan payments will receive an interest rate reduction of .30 percentage point on their eligible Stafford Loans. This benefit remains available during active repayment for as long as the borrower’s monthly payment is successfully deducted from the borrower’s account.
Upromise® can help you pay down your loan
Take advantage of Upromise Loan Link to help you pay down your loan. Join Upromise and you can earn rewards on your everyday purchases from leading participating companies. Then link your Sallie Mae-serviced loan account to your Upromise account and designate a percentage of the earnings in your Upromise account to be transferred to your eligible Sallie Mae-serviced student loan account on a quarterly basis to help pay down your balance. Join today at http://www.upromise.com/regions.
No payments while you are in school
You will receive your money in two or more payments and all funds are sent to your school for disbursement on the dates the school requests. On both subsidized and unsubsidized Stafford Loans, you don’t have to make payments until six months after graduation or after you drop to less than half-time status. You have a maximum of 10 years to pay back your loan and there is a $50 minimum monthly payment ($600 annually).
Maximum loan amounts for Subsidized and Unsubsidized Stafford Loans:
- $5,500 for the Freshman year
- $6,500 for the Sophomore year
- $7,500 for the remaining undergraduate years
- $8,500 for each year of graduate school
The amount of Federal Stafford Loan funds you will receive is established by your school based on criteria defined by the federal government.
For more information, please call 1-800-858-7822 or email Studentlending@regions.com.
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ATTENTION STUDENTS: Upon clicking the apply now button below, you will be asked to select the state and school you are attending. You will then be taken to our servicer's (Sallie Mae) site to create a user id and password. Once you have created and logged into your account, if your school's Stafford Loan process is set up so the loan request must be initiated via the financial aid office, you will not be able to start a new Stafford loan application. If this is the case, the only option you will see will be to "start a private loan". If this occurs, please contact your school's financial aid office to request a Regions Stafford loan. |
* Terms and conditions apply. ** For information on loans that were disbursed between July 1, 1998 to June 30, 2006, please contact Regions Educational Loan Center at 1-800-858-7822.
Regions Bank will pay the 1% default fee on loans guaranteed between 07/01/2007-06/30/2008 by USA Funds or NELA. Borrower benefits are effective for loans owned and serviced by Sallie Mae and first disbursed 07/01/2007-06/30/2008.
Upromise and Upromise Loan Link are service marks or registered service marks of Upromise, Inc. Sallie Mae is a registered service mark and Manage Your Loans is a service mark of Sallie Mae, Inc. SLM Corporation and its subsidiaries, including Sallie Mae, Inc., are not sponsored by or agencies of the United States of America.