Most students can meet their needs using loans through one of the federal programs described below. If you have questions about private loans, contact the financial aid office for more information, including how private loans may impact your other financial aid.

• Federal Stafford Loans: Stafford loans may be subsidized or unsubsidized. On subsidized loans, the government pays interest for you during in school, grace, and deferment periods. Stafford loans for the current academic year offer a fixed interest rate of 6.8%. You will receive a 6-month grace period after you graduate (or otherwise drop below half-time enrollment) before you must begin repayment.


• Federal PLUS Loans for Graduate Students (“Grad PLUS”): Grad PLUS loans are unsubsidized. Grad PLUS loans for the current academic year offer a fixed interest rate of 8.5%. You can defer (postpone) payments on your Grad PLUS loans as long as you are enrolled at least half-time. Also, due to a law change in August, 2008, Grad PLUS loans for the current academic year receive an additional 6-month deferment after you graduate (or otherwise drop below half-time enrollment).