Below is a chart that will provide you a quick overview of the loans available to you. We are here to help you determine the right strategy to meet your financial needs.
LOAN TYPE | BORROWER | MAXIMUM AMOUNT (PER YEAR) | CURRENT INTEREST RATE | CREDIT CHECK REQUIRED? | INITIAL FEES |
Stafford Loan | Student | $3,500 - $12,500 (base on grade level and dependency status) | 3.5% to 6.8% | No | *1.053% |
Federal PLUS Loan | Parent | Up to full cost of school | 7.90% | Yes | *4.212% |
Other Borrowing Options | Student, usually with cosigner | Up to full cost of school | Based upon credit (variable) | Yes | Varies |
* The rates used to calculate fees are subject to change.
