Stafford Loans

The Federal Stafford Loan is available to students who are enrolled at least half-time and demonstrate financial need. Financial need is determined by subtracting the expected family contribution from the estimated cost of attendance. The Federal Government pays the interest while you are enrolled at least half-time.

The Federal Unsubsidized Stafford Loan is also available to students, however, financial need is not required to be eligible for this loan. You must pay the interest on the loan during in-school periods, the grace period and any deferment period. 

How to request a Federal Stafford Loan 

Before requesting Federal Student Loans, you must first complete the FAFSA.

Once you've completed the FAFSA, you will need to complete a Master Promissory Note and Loan Entrance Counseling for undergraduates at Federal Student Aid. You will need your FSA ID

Next, complete the following steps within your Delta Financial Aid Self-Service account:

    1. Log in to Student Self-Service.
    2. Select Financial Aid.
    3. Click on "Request a New Loan" from the financial aid drop down menu.

Stafford Loan exit counseling

If you have received educational loans while at Delta and either recently graduated or are no longer attending, you must arrange to begin repayment of your student loans. You may also want to correct your anticipated graduation date if you will be continuing your education or apply for a deferment, forbearance or cancellation of your student loan. This information must be provided to the holder of your loan.

Default Information

Default is a legal term, but simply put it means that a borrower who has promised to repay a student loan has failed to meet his or her obligation. A loan is delinquent until it is 270 days overdue, at which time it becomes defaulted.

The consequences of defaulting on your educational loans can affect your future in significant ways. It can also impact your college or university, as well as American taxpayers.

To avoid loan default, you must repay a student loan according to the agreed terms on a timely basis. Avoid the negative consequences of loan default which can include:

    • Poor credit rating - which is difficult to resolve 
    • Withholding of income tax refunds
    • Garnishment of wages
    • Loss of all Federal financial aid eligibility

Steps for Repaying Your Student Loans

    1. Review your loan history at Federal Student Aid by logging in with your FSA ID.
    2. Complete exit loan counseling.
    3. Review the Exit Counseling Guide.   
    4. Get to know your loan servicer.  They will help you set up a repayment plan for Free!  Contact them and set up an electronic account.  If you don't know your servicer, please contact our office and we can look it up.
    5. Create a budget. This will help you determine how much you can pay monthly.  Check out MyMoney.Gov for budget worksheets.
    6. Consider loan consolidation. This may help if you have multiple loan servicers and also help you qualify for an affordable repayment plan.
    7. Select an affordable repayment plan. 
    8. Know if you are eligible for loan forgiveness/cancellation/discharge
      • Public service loan forgiveness – You may qualify if you are employed by a government or not-for-profit organization.
      • Teacher Loan Forgiveness – You may qualify if you teach full-time for five consecutive years in certain schools that serve low-income families.
      • Closed school – You may qualify if you school closes while you are enrolled or shortly after you withdraw.
      • Total and permanent disability discharge – You may qualify based on the determination of your total and permanently disability.
      • Discharge in Bankruptcy – You may qualify if you prove to a bankruptcy court that repaying your student loan would cause undue hardship.

Types of repayment plans

Standard repayment

    • Pay off loan quickly, within 10 years

Income-driven repayment plans  ​

    • Revised Pay As You Earn (REPAYE)
      • Generally pay 10% of your discretionary income
    • Pay As You Earn (PAYE)
      • Generally pay 10% of your discretionary income
    • Income-Based (IBR)
      • Generally pay 10% - 15% of your discretionary income
    • Income-Contingent (ICR)
      • Either 20% of your discretionary income or payment amount over course of 12 years adjusted to income

Contact us
Make an appointment with student services departments.

1961 Delta Road
University Center, MI 48710
989–686–9000
info@delta.edu