Student Loan Services
- Federal Unsubsidized Stafford Loan -

• Federal Unsubsidized Stafford Student Loans are available to eligible students attending a participating post secondary institution.



• Borrowers must be an undergraduate/graduate student enrolled at least half-time.



• Borrowers must complete the need analysis application, Free Application for Federal Student Aid (FAFSA).



• Borrower eligibility is NOT based on financial need.



• The Federal government requires students to pay a guarantee and origination fee. These fees are deducted proportionally from each disbursement of the loan.



• The loan funds will be sent directly to the school the student is attending. In most cases, the loan will be disbursed in at least two (2) equal installments. The disbursement dates are determined by the school.



• The loan request cannot be processed until a Federal Stafford Loan Master Promissory Note (MPN) is received by SIMMONS FIRST. The completed MPN should be mailed to:
  
  Simmons First
  P.O. Box 7408
  Pine Bluff, AR 71611
  
  Go to Master Promissory Note (MPN)
  
  By Signing The Master Promissory Note, You Are Entering Into A Legal And Binding Contract. You Are Required By Federal Law To Repay The Full Amount Borrowed.



• The borrower is responsible for the payment of ALL interest accruing on the loan from the time the loan is disbursed until it is paid in full.



• Borrowers are not required to make payments while enrolled at least half time and are allowed a six-month grace period before entering repayment after ceasing to be enrolled at least half-time. Interest payments can be made on a monthly or quarterly basis. If the borrower chooses to allow the interest to accumulate, it will be capitalized (added) to the principal amount of the loan.



• If the interest is capitalized, it will increase the amount the borrower will have to repay. If the interest is paid as it accrues, the borrower will pay less over the life of the loan. In addition, the amount of interest the borrower pays during the first 60 months, in which interest payments are required, is tax deductible.



• Interest rate is a fixed of 6.8%.
  
  Calculate Your Monthly Interest Payment

• Under certain circumstances, borrowers can defer (postpone) repayment of their loan(s). Contact Simmons First to discuss available options.

Unsubsidized Loan Limits

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