Federal Stafford Loan

1. Student must file a separate Federal Stafford loan Master Promissory Note (MPN) with the lender after receiving the Electronic Financial Aid Notification (eFAN)
2. With a Federal Stafford loan you may receive up to $20,500 per academic school year
3. Interest rate is 6.8% 
4. 6 month grace period after graduation, 10 year payback on disbursed loans
5. No credit check
6. Processing/origination fees depending on the student loan lender
7. Must be a U.S. Citizen or Permanent Resident and meet FAFSA criteria
8. Federal Stafford loan is disbursed in equal installments in Fall, Winter and Spring quarters

In addition to the Federal Stafford loan, students may elect to borrow a Federal Graduate PLUS loan or a private student loan.

Federal Graduate PLUS Loan

1. Up and above the $20, 500 borrowed with a Federal Stafford loan
2. You must apply for a Federal Stafford loan first before being considered for a Federal Graduate PLUS loan. You may apply for a Federal Graduate PLUS Loan with the lender of your choice (though it is recommended you use the same lender as your Federal Stafford loan)
3. Interest rate is 8.5%
4. No grace period, 10 year payback
5. 3% processing fee
6. *Simple Credit Check Required*
7. Must be a U.S. Citizen or Permanent Resident and meet FAFSA criteria
8. Federal Graduate PLUS loan is disbursed in equal installments in Fall, Winter and Spring quarters