Eligibility RequirementsA completed FAFSA is required.

Interest Rates

As of July 1, 2006 Federal Direct Loan unsubsidized interest rates are fixed at 6.8%.

Interest Payments

You’re responsible for paying the interest on unsubsidized loans during all periods.  The interest accrues on the loan from the time the loan is disbursed until it’s paid in full.  You can:

• Pay the interest while you’re in school and during deferment or forbearance periods.
• Or, you can allow the interest to accrue and have the interest added to the principal amount of your loan at repayment.  This will increase the total amount that you have to repay because you will be charged interest on a higher principal amount.

Fees

Origination Fee: 1.0%

Repayment

Repayment begins six months after graduation or after your status drops to less than half time.  You have up to 10 years to repay and there is a minimum monthly payment of $50.  There is no penalty for prepayment.  Extended repayment, loan consolidation, deferment, and forbearance options are available.

For additional information, or to apply, go to www.studentloans.gov.

Eligibility Requirements

A completed FAFSA is required. www.fafsa.ed.gov.

To qualify, your credit report cannot reflect any of the following adverse items:

• Default on a debt during the past 5 years.
• Debts have not been discharged due to bankruptcy during the past 5 years.
• Has not been the subject of foreclosure, repossession, tax lien, wage garnishment, or write-off of a Federal Student Aid debt during the past 5 years.

Interest Rate

Grad PLUS has a fixed interest rate of 7.9%.

Fees: 4%

Repayment

There is no grace period on Federal Grad PLUS Loans, however, most servicers offer a 6-month forbearance to allow Graduate PLUS borrowers to align the start of repayment with repayment on Federal Stafford Loans. Borrowers must request this forbearance by contacting their servicer.

For additional information, or to apply go to www.studentloans.gov.