
College Loan options
There are 3 types of loans
Loans are a reality to many families that cannot afford to pay completely out of pocket for their child to attend college. The following is a break-down of the different loan options for covering the cost of attendance:
Federal Subsidized Stafford Loans
Federal Subsidized Stafford Loans
Need-based loans with a current fixed interest rate of 4.45% for undergraduate students. The government pays the yearly interest while student is enrolled in-school, grace, or deferment period. Undergraduates with the greatest need can borrow up to $3,500 for their freshman year. This limit rises as students progress through school.
Federal Unsubsidized Stafford Loans
Federal Unsubsidized Stafford Loans
These loans are sponsored by the government, but are not based on financial need. The interest rates are fixed at 4.45% for undergraduate and 6.00% for graduate students.The borrowing limits vary. Interest will accrue while student is enrolled in school and unpaid balances will be added to the principal amount of your loan at the time of repayment (capitalization). There are many types of repayment plans, but it is strongly encouraged that you at least make interest-only payments while you are enrolled.
Direct PLUS Loans
Direct PLUS Loans
PLUS Loans are federal loans for graduate students and parents of dependent undergraduate students. These loans have a fixed interest rate of 7.00%. In order to qualify for a PLUS loan, parents are required to file a FAFSA and cannot have an "adverse credit history." Interest accrues while the student is enrolled. It is important to note that the PLUS Loan does not carry all the same benefits as the Perkins or Stafford loans.
Loan Repayment
Loan Repayment
Choose the right plan for your situation. Selecting the right repayment plan depends on your financial goals and your situation.

Trojan College Station
Chase High School College Advising
