Terms are for loans guaranteed on or after May 1, 2008. Then, as of July 1, 2008, all terms remain the same, except the stated origination fee on Federal Stafford loans will reduce from 1.5% to 1% and the interest rate will change in accordance with Federal law. Loan program, benefits, rates, terms and conditions are subject to change without notice. However, any such change would not affect the terms of loans previously made.