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Federal Student Aid Program
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Type of Aid
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Program Details
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Annual Award Amounts
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FFEL Subsidized Federal Stafford Loan
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Loan: must be repaid; must be at
least a half time student
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Subsidized:
The U.S. Department of Education pays interest while borrower
is in school and during grace and deferment periods
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Up to $8,500 for graduate
students
Participating
Stafford Loan Lenders
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FFEL
Unsubsidized Federal Stafford Loan
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Loan: must be repaid; must be at least a half time student
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Unsubsidized:
Borrower is responsible for interest during life of the loan; financial
need is not a requirement
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Up to $12,000 for graduate
students
Participating
Stafford Loan Lenders
|
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Federal Perkins Loan
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Loan: must be repaid; must be at least a half time
student
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5%
loans for both undergraduate and graduate students; payment is owed to the
school that made the loan
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Up to $6,000 maximum for graduate
students; no minimum award amount
|
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Federal Work-Study
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Funds are earned while attending
school. Does not have to be repaid
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For
undergraduate and graduate students; jobs are on campus; students
are paid at least minimum wage
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No annual minimum or maximum
award amounts
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Federal Graduate PLUS Loans
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Loan: must be repaid; must be at least a half time student enrolled in a graduate degree program of study
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For graduate/professional; Based on borrower credit history; Repayment begins 60 days from date of full disbursement (deferments available); U.S. Citizen or national;
U.S. Permanent Resident or eligible non-citizen; FAFSA required; Recommend students apply for Stafford Loans prior to receiving Grad/PLUS loans, must not be in default on any student loans or owe refund on any educational grants
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Up to unmet cost of attendance for graduate
students
Participating
Grad PLUS Loan Lenders
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Alternative Loans
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Loan: must be repaid
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Alternative loans can only be used to pay for educational expenses,
such as tuition and fees, room and board, books and supplies,
and transportation.
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Alternative
Loans
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