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Financial Aid
Graduate/Ph.D. Students
Guide to Federal Student Loans
| Federal Perkins Loan |
A Federal Perkins Loan is a low-interest (5
% fixed rate) loan for both undergraduate and graduate students
with financial need. Federal Perkins Loan funds must be repaid,
usually after nine months after ceasing attendance at the
University.
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Federal Stafford Loans |
Federal Family Education Loan (FFEL) Stafford Loans are either
subsidized or unsubsidized.
A subsidized loan is awarded on the basis of financial
need and the federal government “subsidizes” the
interest during your enrollment period.
An unsubsidized loan is not awarded on the basis of need.
The student is charged interest from the time the loan is
disbursed until it’s repaid in full. If interest is
allowed to accrue while the student is in school or during
other periods of nonpayment, it will be "capitalized"—that
is, the interest will be added to the principal amount of
the loan, and additional interest changed will be based
on that higher amount.
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Federal Graduate PLUS Loan |
Federal Graduate PLUS loan is available for students in
a graduate program. The Federal Graduate PLUS loan is unsubsidized.
Students may borrow up to the cost of attendance minus financial
aid. In order to be eligible for Graduate PLUS funds, students
must borrow their full eligibility of Federal Stafford loans
and submit the Graduate PLUS Master
Promissory Note, complete Graduate PLUS Entrance Counseling
and submit a Graduate PLUS Request form.
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Last updated
April 17, 2008 1:42 PM
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