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Student Loans

 

The U.S. Department of Education administers the Federal Direct Student Loan Program (FDSLP) to help students and their families pay for a post-secondary education.  The information below compares the subsidized and unsubsidized loan programs, providing the basic elements of each.

 

Loan Comparison

 

Subsidized Stafford Unsubsidized Stafford
Need-based, low-interest student loan in which the government pays the interest while the student is in school enrolled at least half-time (6 units). This loan is deferred until the student graduates or drops below half-time, and eligibility is determined by the FAFSA. Low-interest student loan in which the student is responsible for the interest while the student is in school enrolled at least half-time (6 units). This loan is deferred until the student graduates or drops below half-time.
Amounts:
Freshman: $3,500
Sophomores: $4,500
Juniors/Seniors: $5,500
Amounts:
Freshman: $3,500
Sophomores: $4,500
Juniors/Seniors: $5,500

Additional:
Dependent students: $2,000
Independent students: 
$6,000 (1st/2nd year)
$7,000 (3rd/4th year)
Interest Rate:
4.45% (fixed)

Interest Rate:
4.45% Undergraduate fixed)

6% Graduate (fixed)

Grace Period:
6 mos. after graduation or student drops below half-time
Grace Period:
6 mos. after graduation or student drops below half-time
Fee:
1.068% of the total loan amount
Fee:
1.068% of the total loan amount
Renewal:
Re-application required each year through FAFSA
Renewal:
Re-application required each year through FAFSA
Additional Requirements:
Master Promissory Note; Loan Counseling
Additional Requirements:
Master Promissory Note; Loan Counseling

 

 

 

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