| Name |
Criteria |
Amount |
Repayment |
| Perkins
Loan |
| • |
5%
fixed interest where school acts as lender |
| • |
Principal
and interest charges deferred while enrolled at least
half-time |
| • |
Eligibility
based on financial need |
|
Up
to $1,000 Annually |
| • |
Begins
nine months after graduation or enrollment drops below
half-time |
| • |
May
run up to 10 years |
|
| William
D. Ford Subsidized Stafford Loans |
| • |
Fixed
at a 6.8% interest rate |
| • |
Eligibility
based on financial need |
| • |
Principal
and interest charges deferred while enrolled at least
half-time |
|
Freshman
Year up to $3,500
Sophomore Year up to $4,500
Subsequent Years up to $5,500 |
| • |
Begins
six months after graduation or enrollment drops below
half-time |
| • |
May
run 10-25 years |
| • |
Government
pays interest until repayment begins |
|
| William
D. Ford Unsubsidized Stafford Loans |
| • |
Fixed
at a 6.8% interest rate |
| • |
Additional
alternative for independent students and dependent students
not qualifying for the full subsidized loan amount |
| • |
Eligibility
not based on financial need |
| • |
Principal
deferred while enrolled at least half-time |
|
No
more than $5,000, but dependent on grade level and dependency
Status |
| • |
Begins
six months after graduation or enrollment drops below
half-time |
| • |
May
run 10-25 years |
| • |
Borrower
pays all interest charges |
| • |
Interest
may be deferred and capitalized at extra cost |
|
|
PLUS Loan
Parent Loan for
Undergraduate
Students |
| • |
Fixed
at a 7.9% interest rate |
| • |
Available
to parents |
| • |
Eligibility
determined by school, not need based |
| • |
Borrower
must have a good credit history |
|
May
borrow up to the difference between school costs less estimated
financial assistance |
| • |
60
days after loan is fully disbursed |
|
