As you set to embark upon your higher education journey, there are many new experiences that may weigh heavily on your mind. Cost shouldn't be one of them. There are many opportunities at the local and federal levels to seek out college loans and a wealth of resources at your fingertips.
Take a moment to review some of the options and rates available to better help you make your choice.
Federal Direct Student Loan (subsidized)Undergraduate students with financial need
Amount: Up to $5,500Interest: Fixed 5.05% (1.062% origination fee)
File FAFSA*, complete Master Promissory Note (MPN) and Entrance Loan Counseling.
Federal Direct Student Loan (unsubsidized)Undergraduate/Graduate students with or without financial need
Amount: Up to $7,500Interest: Fixed, 5.05% (1.062% origination fee), Undergraduate rate
Graduate: Up to $10,250/semesterInterest: Fixed, 6.60% (1.062% origination fee)
Federal Direct Parent PLUS LoanParents borrowing for a dependent student
Amount: Up to the cost of education less aid receivedInterest: Fixed, 7.6% (4.248% origination fee)
File FAFSA, and parent complete PLUS Master Promissory Note and PLUS Loan application
Federal Direct Graduate PLUS LoanGraduate students with financial need
Amount: Up to the cost of education less aid received.Interest: Fixed, 7.60% (4.24% origination fee)
File FAFSA, and student complete PLUS Master Promissory Note and PLUS Loan application
Alternative Educational LoansStudents with a credit-worthy co-signer
Amount: Up to the cost of education less aid received.Interest: Fixed or Variable, tied into Prime or LIBOR rate
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