Stafford Loan Entrance Interview

If you are a student who is interested in borrowing under the Federal Stafford Loan program AND the following conditions apply to you, you must complete an Entrance Interview.

• You have never borrowed under the program previously, OR
• You have borrowed under the program previously but NOT while attending Ithaca College.

Completion of the entrance interview via the Internet is easy and will take about 15 minutes. Here's what you should do:

1. If you haven't already done so, complete your Ithaca College Loan Request Form (LRF). The LRF is the document to tell us what lender and guarantor you wish to use. Your LRF is submitted to the Office of Financial Aid.
2. You'll need some information handy to type in to the web site: your social security number, your permanent address, and your driver's license number (if you have one).

Federal regulation requires that you are presented with the Average Stafford Loan Indebtedness for the Ithaca College Class of 2007. This information is based on a random survey of 100 seniors who have borrowed under the program.

Average total Federal Stafford Loan Indebtedness: $14,996

Average estimated monthly Federal Stafford Loan payment (based on 120 months):

Interest Rate	Monthly Payment	Total Interest Paid	Total Interest/Principal Paid
4.70%	$157	$3,827	$18,823
5.30%	$161	$4,356	$19352
6.80%	$173	$5,713	$20,709
8.25%	$184	$7,076	$22,072

Begin the Stafford Loan Entrance Interview