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FAFSA (Free Application for Federal Student Aid)-AVAILABLE OCTOBER 1ST
LOAN INFORMATION
Always borrow federal first. Federal student loans are cheaper, more available and have better
repayment terms than private student loans.
Awarded based on exceptional need. Interest is subsidized and fixed at 5%. No fees.
Favorable benefits may be lost upon consolidation. REPAYMENT begins 9 months after graduation or dropping below half-time enrollment status.
Subsidized Interest accrues with graduation for loans made in 2012-13 and 2013-14 Repayment still begins 6 months after graduation. Fixed interest rate is 3.4% if loan originated on/after July 1, 2011 for undergraduate students. 1% fees. UnsubsidizedInterest accrues during school. Fixed interest rate is 6.8% if loan originated on/after July 1, 2006. 1% fees. On loans first disbursed on or after July 1, 2009, annual limits have increased by $2,000 for independent and dependent undergrads.
REPAYMENT begins 6 months after graduation or after dropping below half-time enrollment status.
If loan originated on/after July 1, 2006: Direct PLUS fixed interest rate is 7.9% with 4% fees. REPAYMENT begins 60 days after full disbursement, or 6 months after student graduates or drops below half-time. Interest continues to accrue during deferment.
Combine loans to one lender. Fixed interest rate is the weighted average of the loans rounded up to the nearest 1/8 of a % and capped at 8.25%.
Eligibility, interest rate and fees based on better of borrower and cosigner credit scores. More expensive than Federal student loans. For more information on private/alternative loans, visit:www.finaid.org/privateloans
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