2 Although both loan rates are now tied to the 10-year Treasury note, graduate rates are always higher than undergraduate rates. Current interest rates for federal direct loans can be found on the Federal Student Aid website. Bankruptcy Borrowers who default or become otherwise unable to ...
The Federal Direct Loan Program provides low-interest student loans to post-secondary students (undergraduates and graduate students) and their parents. The William D. Ford Federal Direct Loan Program, managed by the United States Department of Education, is the only government-backed student loan pr...
Direct loans for graduate students also come with ahigher interest rate, at 5.28%. Because of the less competitive terms, students in graduate school should consider their alternative borrowing options, including private student loans. Private student loans can come withlower interest ratesand loan pa...
Once you know how much you need beyond Direct Unsubsidized Loans (if anything), you can begin applying for other options, such as a Grad PLUS Loan or private graduate school loan. Grad PLUS loans may come with more benefits and the potential for loan forgiveness, but a private loan could...
Name of Private Loan Eligible Candidates Required Credit Score Interest Rate Maximum Loan Amount Direct Subsidized Loans Undergraduate Students N.A. 6.53% Determined by the school and cannot exceed the financial need. Direct Unsubsidized Loans Undergraduate, Graduate, and Professional Students N.A. For...
Unlike other types of federal student loans and some private loans, there is no standard limit on the amount parents can borrow when taking out a Parent PLUS loan, a type of federal loan available to parents of dependent undergraduate students to help pay for education expenses not covered by...
Federal Direct Stafford Loan Federal PLUS Loan (education loans for graduate students and parents) Perkins Loan Parent PLUS Loan Grad PLUS Loan Grants Work-Study Programs Receiving Your Federal Loan Generally, you will receive your loan money in at least two payments called disbursements, and in mo...
Type Subsidized or Unsubsidized Interest Rate Undergraduate Student Borrowers Both 5.05% Graduate or Professional Student Borrowers Unsubsidized 6.60% Parent Plus Loan Unsubsidized 7.60% Federal Government Student Loans Maximum Limit With subsidized student federal government student loans, the U.S. ...
Direct PLUS Loans If your loans aren't enough to cover your need, your parents can take outPLUS loans to cover education costs(graduate students can also qualify for these loans on their own). Also, the interest rate is higher (as of January 2017, the in...
Plus, some lenders require payment on both the principal amount and the interest gained while you’re still in school, so it’s best to start paying off these loans before you graduate if possible. Be sure to research any student loan before you sign on the dotted ...