Summary
Loan Chart for Federal Student Loans
|
Federal Student
Loan Program |
Type
of Aid |
Other
Information |
Annual
Award Limits |
Disbursement |
|
for undergraduate
and graduate students
who meet financial
need and enrollment criteria
more
product info
|
Loan:
must be repaid
You may consolidate your loans after
school for extended repayment terms that lower your monthly payment
view terms at our student loan consolidation
site: click
here
|
Subsidized:
The Federal Government
pays the interest while the student
is in school and during grace and
deferment periods.
Limited Requirements
| co-borrower: |
NO |
| credit check: |
NO |
| collateral: |
NO |
Rates:
view
rates
|
Loan Amounts:
$2,625
to $18,500 annually, depending on
grade level
Maximum Limit:
view
chart |
Direct
Loans:
The federal government provides funds
to schools.
The school then disburses funds to
the student after payment of tuition
and other school expenses.
FFEL:
Private lenders and banks provide
funds to schools.
The school then disburses funds to
the student after payment of tuition
and other school expenses. |
|
for undergraduate
and graduate students
who meet financial
need and enrollment criteria
more
product info
|
Loan:
must be repaid
You may consolidate your loans after
school for extended repayment terms that lower your monthly payments
view terms at our student loan consolidation
site: click
here |
Unsubsidized:
The borrower is responsible
for interest during the life of the
loan
Requirements:
| co-borrower: |
NO |
| credit check: |
NO |
| collateral: |
NO |
Rates:
view
rates
|
Loan Amounts:
$2,625
to $18,500 annually, depending on
grade level
Maximum Limit:
view
chart |
|
Available to parents of dependent
undergraduate students
more
product info
|
Loan:
must be repaid
You may consolidate your loans after
school for extended repayment terms that lower your monthly payments
view terms at our student loan consolidation
site: click
here
|
Requirements:
| co-borrower: |
NO* |
| credit check: |
Yes* |
| collateral: |
NO |
* Borrower must have a satisfactory
credit. Parents who don't have satisfactory
credit should apply with a creditworthy
co-borrower.
Rates:
view
rates |
Loan Amounts:
Cost
of attendance minus any other financial
aid received |
|
Available to graduates and professional students
more
product info
|
Loan:
must be repaid
You may consolidate your loans after
school for extended repayment terms that lower your monthly payments
view terms at our student loan consolidation
site: click
here
|
Requirements:
| co-borrower: |
NO* |
| credit check: |
Yes* |
| collateral: |
NO |
* Borrower must have a satisfactory
credit. Students who don't have satisfactory
credit should apply with a creditworthy
co-borrower.
Rates:
view
rates |
Loan Amounts:
Cost of attendance (includes tuition, room and board, books, and even travel) minus any financial aid
received. |
Private
Student Loan Programs
|
Private
Student
Loan Program |
Type
of Aid |
Other
Information |
Annual
Award Limits |
Disbursement |
|
for undergraduate
and graduate students
more
product info |
Loan:
must be repaid
You may consolidate your private
student loans after school for extended
repayment terms that lower your monthly payments
view terms at our student loan consolidation
site: click
here |
Qualifications:
Available
to undergraduate or graduate student
enrolled at least half-time in a degree
or certificate program at an approved
college or university
Requirements:
| co-borrower: |
NO* |
| credit check: |
Yes* |
| collateral: |
NO |
* Borrower must have a satisfactory
credit. Borrowers who don't have satisfactory
credit should apply with a creditworthy
co-borrower.
|
Loan Amounts:
$1,500
to $30,000; the five-year maximum is
$130,000 |
Funds
disbursed directly to the student |
|
for homeowners with equity value in their home
more
product info |
Loan:
must be repaid |
Qualifications:
Available
to homeowners with an equity position
at qualified LTV ratios:
calculate
your LTV position
Requirements:
| co-borrower: |
NO* |
| credit check: |
Yes* |
| collateral: |
Yes |
* Borrower must have a satisfactory
credit. Borrowers who don't have satisfactory
credit should apply with a creditworthy
co-borrower.
|
Loan Amounts:
no
annual limits. Total amount limited
by the approved balance upon loan closing. |
Home
equity lines: funds available
whenever needed upon writing a check.
Home equity loans:
total funds disbursed to the homeowner upon
closing. |
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|
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