Loan Comparison

Deciding which loan is right for you can be confusing. To help make it easier, we have set up a side-by-side comparison of the different loans available. You can also visit any of our branch offices and speak with our friendly, knowledgeable personnel. We will be happy to help answer all of your questions!

	Subsidized Federal Stafford Loan	Unsubsidized Federal Stafford Loan	Federal PLUS (parent) Loan
Description	A long-term, variable rate, low interest loan.	A long-term, variable rate, low interest loan.	A long-term, variable rate, low interest loan designed for parents borrowing on behalf of their dependents attending college.
Eligibility	Both undergraduate and graduate students enrolled at least half-time are eligible.	Both undergraduate and graduate students enrolled at least half-time are eligible. Additional funds may be available for eligible students. Your school will determine your eligibility.	Parents borrowing on behalf of their dependents attending college at least half-time are eligible.
FAFSA Required	Yes	Yes	No
Interest	Interest is paid by the federal government while the student is enrolled at least half-time.	Interest payments are the responsibility of the borrower while they are enrolled in school and during the 6 month grace period before repayment begins after the student ceases to be enrolled at least half-time. Students can choose to pay interest while in school or the interest can be capitalized.	Interest begins to accrue on the day the first loan is disbursed.
Interest Rate	Borrowers who receive disbursements on or after July 1, 1994 will have an annual variable rate which will not exceed 8.25%.	Borrowers who receive disbursements on or after July 1, 1994 will have an annual variable rate which will not exceed 8.25%.	Borrowers will have an annual variable rate which will not exceed 9.0%.
Repayment	Payments are not due while the student is enrolled at least half-time. There is a grace period of 6 months before repayment begins after the student ceases to be enrolled at least half-time.	Payments are not due while the student is enrolled at least half-time.* There is a grace period of 6 months before repayment begins after the student ceases to be enrolled at least half-time.	The first payment is due within thirty days of the date the FPLUS Loan is fully disbursed.
Repayment Term	Up to 10 years	Up to 10 years	5 to 10 years, depending on the amount borrowed
Minimum Monthly Payment	$50	$50	$50
Origination Fee	3.0%	3.0%	3.0%

*Interest payments must still be made during this time.

How to Apply

To be sure you have your funds when you need them, ask your school's Financial Aid Administrator for deadlines.