NEWS & EVENTS
Student Loan Fact Sheet
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    Student Loan Fact Sheet
      Federal Direct
    Subsidized
    Federal Direct
    Unsubsidized
    Federal Direct Parent PLUS
    Application Process   Direct Loan Application  Direct Loan Application  Direct Parent PLUS Loan Application 
    Borrower  Dependent or Independent Undergraduate Student Dependent or Independent Student Parent of Dependent Undergraduate Student
    Interest Rates  Fixed 3.86% Fixed 3.86% for undergraduates; 5.41% for graduate students Fixed 6.41%
    Principal Deferred  Yes Yes Possible while student is in school - contact your servicer for details.
    Interest Deferment Options  Yes. The government pays the interest while borrower is in school. Yes. Interest accrues during the deferment period. Students have the option to pay loan interest while in school; if the interest is not paid, it will be added to the principal loan balance. Interest accrues during the deferment period. Students have the option to pay loan interest while in school; if the interest is not paid, it will be added to the principal loan balance. Possible while student is in school. Contact your servicer for details. 
    Grace Period  6 Months
    Interest still paid by the federal government. Repayment of loan begins after the grace period. 
    6 Months
    Borrower is responsible for interest accrued during in-school and grace periods. Repayment of loan begins after grace period. 
    Possible while student is in school - contact your servicer for details. 
    Annual Loan Maximums 

    Year 1 = $3,500
    Year 2 = $4,500
    Year 3-5 = $5,500 

    Depends on financial need

    Dependent Students: up to - 

    Year 1 = $5,500
    Year 2 = $6,500
    Year 3-5 = $7,500
    Less amount received in Subsidized loan.

    Independent Students*: Same as above plus an additional amount: Year 1-2 = $4,000; Year 3-5 = $5,000

    Cost of Education Less Any Other Financial Aid 
    Annual Loan Maximum - Graduate/MBA  $8,500 $12,000 N/A
    Standard Length of Repayment  10 Years 10 Years 10 Years
    Fees Deducted  1.072% 1.072% 4.288%
    Credit Check Required  No No Yes*
    Based on Need  Yes No No


    *Dependent students whose parents cannot borrow under the Direct Parent PLUS Loan Program due to an adverse credit history are eligible for the additional Independent Student Loan Funds. Please contact our office for more information.