Types of Financial Assistance: Loans

Federal Loans

Federal Unsubsidized Loans			Federal Graduate Plus Loans
6.8% fixed interest rate			7.9% fixed interest rate
1.0% origination fee			4.0% origination fee
Repay 6 months post-graduation			Must be enrolled at least half-time
Multiple repayment options			Must be creditworthy (no adverse credit) or have a creditworthy endorser
Must be enrolled at least half-time			Can borrow up to the Cost of Attendance minus all other aid
Non Need Based			No grace period Repayment begins 60 days after loan is fully disbursed , however you are eligible for in-school deferment for as long as you are enrolled at least half-time (this is automatically reported to the Department of Education by the school)
Interest accrues while in school			Multiple repayment options(PDF)
Can make payments on interest or defer it with principal

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Federal Loan Borrowing Limits: Annual

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Federal Unsubsidized Loans			Federal Graduate Plus Loans
$42,722 = 10 months Plus $2,222 each additional month			May borrow up to Cost of Attendance minus all other awards (scholarships, grants, Loans)

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Federal Loan Borrowing Limits: Aggregate

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Federal Unsubsidized Loans			Federal Graduate Plus Loans
$224,000 lifetime borrowing (includes all subsidized and unsubsidized federal student loans previously borrowed)			None