Your Complete Guide to Understanding Federal Student Loans

Federal student loans are designed to cover the gap between cost of attendance and other financial aid. To be eligible for federal student loans, you’ll need to complete the FAFSA .

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✔ For undergraduate students ✔ Based on financial need ✔ Determined by family income

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✔ Fixed rate ✔ Origination fee ✔ Government pays the interest while in school

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✔ 6 months after graduation (or less than half-time enrollment) ✔ Repayment plans range from 10 to 25 years

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There are annual and aggregate loan limits.

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Direct Subsidized and Unsubsidized Loans

✔ For undergraduate and graduate students ✔ Not based on financial need

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✔ Fixed rate ✔ Origination fee ✔ Government does not pay the interest while in school

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✔ 6 months after graduation (or less than half-time enrollment) ✔ Repayment plans range from 10 to 25 years

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✔ Amounts vary for dependent and independents ✔ See StudentAid.gov for details and aggregate limits

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Direct Parent and Grad PLUS Loans

✔ For parents of dependent undergraduate students ✔ For graduate and professional students ✔ Pass a credit check ✔ Not based on financial need ✔ Apply at StudentAid.gov

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✔ Fixed rate ✔ Origination fee ✔ Government does not pay the interest while in school

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✔ Parents can request in-school deferment ✔ Students begin repaying 6 months after graduation (or less than half-time enrollment) ✔ Repayment plans range from 10 to 25 years

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✔ Annual cost of attendance minus other financial aid ✔ No aggregate loan limits

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Your Complete Guide to Understanding Federal Student Loans

Federal student loans are designed to cover the gap between cost of attendance and other financial aid. To be eligible for federal student loans, you’ll need to complete the FAFSA .

Federal Student Loans

✔ For undergraduate students ✔ Based on financial need ✔ Determined by family income

How Do You Qualify?

✔ Fixed rate ✔ Origination fee ✔ Government pays the interest while in school

What Are The Rates and Fees?

✔ 6 months after graduation (or less than half-time enrollment) ✔ Repayment plans range from 10 to 25 years

When Does Repayment Start?

There are annual and aggregate loan limits.

How Much Can You Borrow?

Direct Subsidized and Unsubsidized Loans

✔ For undergraduate and graduate students ✔ Not based on financial need

How Do You Qualify?

✔ Fixed rate ✔ Origination fee ✔ Government does not pay the interest while in school

What Are The Rates and Fees?

✔ 6 months after graduation (or less than half-time enrollment) ✔ Repayment plans range from 10 to 25 years

When Does Repayment Start?

✔ Amounts vary for dependent and independents ✔ See StudentAid.gov for details and aggregate limits

How Much Can You Borrow?

Direct Parent and Grad PLUS Loans

✔ For parents of dependent undergraduate students ✔ For graduate and professional students ✔ Pass a credit check ✔ Not based on financial need ✔ Apply at StudentAid.gov

How Do You Qualify?

✔ Fixed rate ✔ Origination fee ✔ Government does not pay the interest while in school

What Are The Rates and Fees?

✔ Parents can request in-school deferment ✔ Students begin repaying 6 months after graduation (or less than half-time enrollment) ✔ Repayment plans range from 10 to 25 years

When Does Repayment Start?

✔ Annual cost of attendance minus other financial aid ✔ No aggregate loan limits

How Much Can You Borrow?

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