A Stafford Loan is a type of federal student loan designed to help students pay for their education. It is available to both undergraduate and graduate students and offers fixed interest rates, making it easier to budget for repayment. There are two main types: subsidized, where the government pays the interest while the student is in school, and unsubsidized, where the student is responsible for all interest. To qualify for a Stafford Loan, students must complete the Free Application for Federal Student Aid (FAFSA). The amount a student can borrow depends on their year in school and whether they are dependent or independent. Repayment typically begins six months after graduation or dropping below half-time enrollment.