A loan is borrowed money that must be repaid, usually with interest. There are several types of federal, private, student, and parent loans which our office handles.
|Perkins||Federal||Student||Undergraduate or graduate student enrolled full time, qualifying level need, availability of funds||Fixed rate of 5%|
|Stafford (Subsidized)||Federal||Student||Undergraduate student enrolled at least half time, qualifying level of need. (Graduate students are no longer eligible for subsidized loans, effective 07/01/2012)||Undergraduate: 0% in school and deferment, fixed rate of 3.4% during repayment for loans disbursed between 07/01/2010 and 06/30/2013|
|Stafford (Unsubsidized)||Federal||Student||Undergraduate or graduate student enrolled at least half time.||Fixed rate of 6.8% in school, grace and deferment--Fixed rate of 6.8% during repayment|
|Grad PLUS||Federal||Student||Graduate or professional student enrolled at least half time.||Fixed rate of 7.9%|
|Parent PLUS||Federal||Parent||Dependent undergraduate student enrolled at least half time.||Fixed rate of 7.9%|
|Private / Alternative||Private||Student||Undergraduate or graduate student enrolled at least half time.||Variable (Varies with lender)|
|Short-Term||Institutional||Student||Undergraduate or graduate student enrolled at least half time.||$5.00 flat fee|