OVERVIEW
Federal Loan Overview
FEDERAL PERKINS LOAN
Perkins Loan
FEDERAL STAFFORD LOAN
Stafford Loans
Entrance Interview
Exit Interview
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Complete Master Promissory Note
FEDERAL PLUS LOAN PROGRAM
Federal Plus
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Complete Master Promissory Note
UNITED METHODIST LOAN
United Methodist
PRIVATE (ALTERNATIVE) LOANS
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CONSOLIDATION
Consolidating Federal Loans
|
Origination Fee |
$0 |
2% |
2% |
4% |
|
Annual Award ($'s) |
$200-$3,500 |
freshman: $3500, sophomore: $4500, junior/senior: $5500 |
minimum $2000 |
Cost of attendance less other financial aid received |
|
Aggregate Limits ($'s) |
|
For combined programs: undergraduate dependent $31,000, undergraduate independent $62,000 |
|
Cost of attendance less other financial aid received |
|
Primary Borrower |
student |
student |
student |
Parent of undergraduate dependent student |
|
Credit Check |
No |
No |
No |
Yes |
|
Interest Rate |
5% |
Fixed 5.6% |
Fixed 6.8% |
Fixed 8.5% |
|
Repayment Length |
10 years |
10 years |
10 years |
10 years |
|
Grace Period |
9 months after graduate, leave school or drop below half-time |
6 months after graduate, leave school or drop below half-time |
6 months after graduate, leave school or drop below half-time |
60 days from the date of the last disbursement |
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