Federal
Stafford Loans (subsidized and unsubsidized)
- Funds
borrowed by student from lending institution
- Repayment
begins 6 months after graduation or if student falls below half-time
enrollment status
- Interest
rate fixed at 6.8%
- Subsidized
loans accrue interest upon entering repayment
- Unsubsidized
loans accrue interest while student in school
- Eligibility
determined from FAFSA
- Awards
per semester depend upon grade level, dependency status, Stafford Loans
previously borrowed, etc.
- Dependent
undergraduates can borrow a lifetime maximum of $23,000
- Independent
undergraduates can borrow a lifetime maximum of $46,000
- Student
working on a Master's can borrow a lifetime maximum of $138,500
>>Apply
for a Stafford Loan Now!
Federal
Nursing Loans
- Federally
funded, institutionally administered
- Repayment
begins 9 months after graduation or if student falls below half-time
enrollment status
- Interest
fixed at 5%
- Accrue
interest upon entering repayment
- Eligibility
determined from FAFSA; priority given to juniors and seniors
- Average
Federal Nursing Loan per semester of $1,000
Federal
Parent Loan for Undergraduate Students (PLUS)
- Funds
borrowed by parent, from lending institution, for dependent undergraduate
student
- Repayment
usually begins 30 -90 days after disbursement
- Interest
rate fixed at 8.5%
- Eligibility
determined from FAFSA
- Amount
parent can borrow dependent upon other financial assistance received by
student
>>Apply
for a Federal PLUS Now!
Alternative
Loans
- Funds
borrowed by student from lending institution
- May borrow up to cost of
attendance less financial aid already received
- See Loan
Lender Information Sheet (PDF format) for details.
>>More
information about Alternative Loans
