Direct Unsubsidized Stafford Loan
Direct Grad PLUS Loan
Private / Alternative Loan
Interest
Rate
Fixed at 6.8% (Interest accrues from the date of disbursement) Fixed at 7.9% (Interest accrues from the date of disbursement) Variable (Interest accrues from the date of disbursement)
Fees
Fees for origination vary from 0 – 2.5% Fees for origination vary from 0 – 4% Fees vary based on lender, loan type and credit history
Annual
Loan
Limits
$37,167.00 – 1st, 2nd & 3rd yr
$33,000.00 – 4th yr
Up to the total cost of attendance minus other financial aid received. Depends on lender and credit history
Credit
Requirements
No credit check required Credit check required Cosigner required No debt-to-income scoring Credit check required Cosigner may be required Debt-to-income scoring may be required
Deferment/
Forbearance
Available Available Depends on lender
Repayment
Grace period is 6 months after graduation or last day of attendance. Maximum term 10 to 25 years No grace period Repayment begins within 60 days after final disbursement. Maximum term 10 to 25 years No grace period Repayment terms