FEDERAL PERKINS LOAN

This is a loan available to undergraduate students who demonstrate financial need.  It must be repaid at a 5% interest rate.

 FEDERAL DIRECT LOAN

This is a need based loan available to undergraduate students at a fixed interest rate  of 4.5% with repayment beginning six months after the student’s enrollment level drops below half-time.

 FEDERAL DIRECT PLUS LOANS

This is a non-need based loan available to dependent students’ parents to help with the direct and indirect costs of attending college.  The interest rate is variable with a cap of 7.90% and repayment begins 60 days after the loan is fully disbursed.

 FEDERAL DIRECT UNSUBSIDIZED LOAN

This is a non-need based loan available to undergraduate students.  The fixed rate is of 6.8%, and it may be repaid while the student is in school or capitalized as agreed upon by the borrower and servicer.

 ADDITIONAL FEDERAL DIRECT UNSUBSIDIZED LOAN

This is a loan available to independent students or dependent students whose parents have been denied a PLUS Loan due to their credit history.

 Annual Loan Limits for Federal Direct Loan Program