Financial Aid

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Graduate Students Loan Comparison Chart

 

Terms

Federal Stafford

Federal Grad PLUS

Private Loans

Interest Rate

6.8% Fixed

7.9% Fixed

Variable interest rate depending on lender product

Loan Fees

1.5%

3% - 4%

Various origination fees depending on lender product

Credit Check

No

Yes
(No adverse credit)

Yes
(Must meet FICO requirements as set by lender)

Cosigner Required

No

No

Varies by lender

Annual Loan Limit

$20,500
(of which only $8,500 can be subsidized)

COA less other financial aid
(must accept total Stafford eligibility)

COA less other financial aid

Aggregated Loan Limits

$138,500

none

Varies by lender

Grace Period

6 months

None
(Student will receive in-school deferment & may be eligible
for 6 months forbearance to align
entry into repayment with Stafford Loans.)

Varies by lender

Deferments or Forbearance

Yes

Yes

Varies by lender

Repayment Terms

10-25 years based on
repayment option & balance owed

 10-25 years based on repayment option & balance owed

Varies by lender

Repayment Options

Standard, Graduated,
Income Sensitive

Standard, Graduated,
Income Sensitive

Varies by Lender

Eligible for Federal Consolidation

Yes

Yes

No

Master Promissory Note

Yes

Yes

Varies by Lender