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