Federal Student Aid
Federal Student LoansTo be eligible for any form of federal aid, students must meet several requirements. Click here to learn how to maintain eligibility for federal financial aid.
Federal Perkins Loan
- Interest rate: 5%, fixed
- Origination fee: None
- Grace period: Nine months after graduation or dropping below six credit hours
- Note: This loan is not automatically awarded. A Perkins Loan Interest Form must be submitted by those wishing to receive this loan. A new interest form must be submitted for every aid year that a student wishes to be considered for Perkins funding. Read below for more information.
Federal Direct Unsubsidized Stafford Loan
- Interest rate: 6.21% fixed
- Origination fee: 1.072%
- Grace period: Six months after graduation or dropping below six credit hours
Federal Direct Graduate PLUS Loan
- Interest rate: 7.21% fixed
- Origination fee: 4.288%
- Grace period: As of April 2014, the Graduate PLUS Loan has a deferment option for graduate or professional students who are enrolled at least half-time (six or more credit hours per term) and for an additional six months after you cease to be enrolled at least half-time. This applies to new Graduate PLUS Loans only. Students with existing Graduate PLUS Loans will need to contact the loan servicer to ask about their grace period option.
Students who are denied the Graduate PLUS Loan are eligible to secure an endorser for the loan. This process will be completed on studentloans.gov using the "Endorse a Direct PLUS Loan" option on the left side of the page. Another option would be for the student to provide documentation of extenuating circumstances to Applicant Services showing that the situation causing the unsatisfactory credit decision was resolved. Contact Applicant Services at 1-800-557-7394. Click here for detailed instructions on what to do if your credit for the Graduate PLUS Loan has been denied.
We encourage students to view their lender information and borrowing history by checking the National Student Loan Data System (NSLDS). Directions on how to accept your aid can be found on this page.