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Federal Perkins Loans - This is a loan available to both graduate and undergraduate students and based on financial need. The interest rate is fixed at 5% and repayment doesn't begin until 9 months after you graduate (or drop below half-time status.) Funds are limited.
Application: FAFSA
Deadline: May 1
Federal Subsidized Stafford Loan - This is a loan program where undergraduate or graduate student borrows through the lender of their choice to help meet their educational expenses and is based on financial need. The interest rate will not exceed 8.25%. This is a subsidized loan which means the government based the interest for you as long as you're in school as least half-time. Repayment begins six months after you graduate (or drop below half-time status.)
Application: FAFSA; First year borrowers must complete and sign Master Promissory Note (MPN) and complete Entrance Counseling
Deadline: Before last day of enrollment
Federal Unsubsidized Stafford Loan - This is a loan program where undergraduate or graduate student borrows through the lender of their choice to help meet their educational expenses and is not based on financial need. The interest rate will not exceed 8.25%. This is an unsubsidized loan which means you are responsible for the interest while you're in school Repayment begins six months after you graduate (or drop below half-time status.)
Application: FAFSA; First year borrowers must complete sign Master Promissory Note (MPN) and complete Entrance Counseling
Deadline: Before last day of enrollment
Federal Parent Loans for Undergraduate Students (PLUS) Loan - This is a loan program where the parent of an undergraduate student borrows through the lender of their choice and can borrow up to the cost of education minus any other aid the student receives. Parents are subject to a credit check. The interest rate will not exceed 9%. Repayment usually begins within 60 days after the loan is fully disbursed.
Application: FAFSA; Parents must complete and sign Master Promissory Note (MPN) every year
Deadline: Before last day of enrollment
Federal Graduate PLUS Loan - This is a loan program where a graduate student borrows through the lender of their choice and can borrow up to the cost of education minus any other aid the student receives. Students are subject to a credit check. The interest rate will not exceed 9%. Repayment begins six months after you graduate (or drop below half-time status.)
Application: FAFSA; Graduate students must complete and sign Master Promissory Note (MPN) every year.
Deadline: Before last day of enrollment
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