Loan Programs
A loan is money that you must repay with interest under varying terms and conditions. Borrowing is a serious responsibility and can affect your future credit rating.
Federal Direct Stafford
Summary: Federal loan program for students.
Terms:
UNDERGRADUATE
- Rate: 3.4% Fixed (Subsidized), 6.8% Fixed (Unsubsidized) (interest accrues while in deferment)
- Fees: 1% Origination (levied by the Department of Education) for both Subsidized and Unsubsidized
- Term: 10 years
GRADUATE
- Rate: 6.8% Fixed (Unsubsidized Only) (interest accrues while in deferment
- Fees: 1% Origination (levied by the Department of Education)
- Term: 10 years
Loan Limits: See Eligibility and Loan Limits
How to Apply
Federal Direct PLUS for Parents
Summary: Federal loan program for parents of dependent undergraduate students.
Terms:
- Rate: 7.9% Fixed (interest accrues while in deferment)
- Fees: 4% Origination (levied by the Department of Education)
- Term: 10 Years
Loan Limit: Cost of Attendance less all other aid the student receives.
How to Apply
Federal Direct PLUS for Graduates
Summary: Federal loan program for graduate students.
Terms:
- Rate: 7.9% Fixed (interest accrues while in deferment)
- Fees: 4% Origination (levied by the Department of Education)
- Term: 10 Years
Loan Limit: Cost of Attendance less all other aid the student receives.
How to Apply
Private / Alternative Loan
Summary: Bank loan for undergraduate and graduate students. Purpose is to supplement the Federal Direct Stafford loan.
Terms:
- Rate: Varies from lender to lender. Adjustable and Fixed programs available.
- Fees: Depends upon the specific lender and loan program.
- Term: 5-15 years
Loan Limit: Cost of Attendance less all other aid the student receives.
More Information
Exit Counseling
- Tips and useful information to help student borrowers manage their loans and know their rights and responsibilities.
- More Information
Important Links