|
Stafford Unsubsidized Loan
|
Grad PLUS Loan
|
Application |
Completion of the FAFSA |
Completion of the FAFSA and paper Grad PLUS application |
Credit Check |
No |
Yes |
Endorser/Co-Signor |
No |
Dependent on student’s credit check |
Interest Rate |
5.41% fixed if first disbursement is prior to July 1, 20146.21% fixed if first disbursement is on or after July 1, 2014 |
6.41% fixed if first disbursement is prior to July 1, 20147.21% fixed if first disbursement is on or after July 1, 2014 |
Annual Borrowing Limit |
D1: $40,500 D2-D4: $47,167 |
Difference of annual Cost of Attendance and all other accepted awards |
Lifetime Borrowing Limit |
$224,000 Includes all Stafford loans borrowed throughout educational career |
There is currently no lifetime borrowing limiti |
Repayment Timeline |
Begins 6 months after graduating, dropping below half-time status, or separating from the University |
Begins 6 months after graduating, dropping below half-time status, or separating from the University. |