Financial aid eligibility for federal student loans is based on the results of your FAFSA, your graduate degree program, and your anticipated enrollment status (a minimum of 6 credits or halftime status is required each semester).
To accept the Stafford Loan, please click here.
Please read through all of the Stafford loan information below. Under the William D. Ford Federal Direct Loan Program (Direct Loan), the funds for your loan come directly from the federal government.
Basic Loan Information
Federal Stafford Loans do not require a credit check and include benefits such as a fixed annual interest rate, six month grace period, and deferment options to help you succeed in repayment.
Please note that you must have completed a FAFSA before you can accept your Stafford loans.
Annual Limits: The annual Unsubsidized Stafford Loan limit for graduate students is $20,500.
Aggregate Limit: The aggregate Stafford Loan limit for graduate students is $138,500. No more than $65,500 of this total may constitute Subsidized loans.
The 2019-2020 fixed interest rate is 6.08%.
There is a 1.062% origination fee of the amount borrowed that is withheld by the lender, the U.S. Department of Education.
GRADUATE PLUS LOAN
To apply for the Graduate PLUS loan, please click here.
Please read through all of the Graduate PLUS Loan information below. Under the William D. Ford Federal Direct Loan Program (Direct Loan), the funds for your loan come directly from the federal government.
Basic Graduate PLUS Loan Information
To help meet the costs related to funding your education, you may consider applying for a Federal Graduate PLUS Loan. The Graduate PLUS Loan offers a fixed annual interest rate and you can borrow up to the cost of attendance less any other financial aid. A FAFSA must be filed before you can apply for a Graduate PLUS Loan.
Unlike the Federal Stafford Loan, the Federal Graduate PLUS Loan requires a credit check. To be approved for the Graduate PLUS Loan, your credit report cannot reflect any of the following:
· Currently 90 days or more delinquent on repayment of any debt.
· Debt discharged in bankruptcy during the past five years
· Evidence of a default, foreclosure, tax lien, repossession, wage
garnishment, or write-off of a Title IV debt during the past five years.
If you do not qualify for this loan based on the credit criteria outlined above, you may still receive the loan with an endorser, who will be subject to the same credit criteria.
The 2019-2020 fixed interest rate is 7.08%.
A 4.248% fee is deducted from the amount borrowed.
Example: A $15,000 Graduate PLUS loan will net $14,362.