Federal Student Loan Program Chart

 

Federal Perkins Student Loan

Federal Direct Subsidized Stafford/Ford Loan

Federal Direct Unsubsidized Stafford/Ford Loan

Federal Parent PLUS

Federal Grad PLUS

Lender

SF State

Federal government

Federal government

Federal government

Federal government

Interest Rate

5%

5.6% *

6.8% *

8.5%

8.5%

Interest-free in school?

Yes

Yes

No

No

No

Loan fees

None

1.5% **

1.5% **

4%

4%

Annual maximums

$1200/

undergraduate

 

$3000/second bachelor or

credential

$3,500/freshmen

$4,500/sophomores

$5,500/juniors & seniors, second bachelor/Credential

 

$8500/Masterís degree

$2000/  All dependent students

Independent:

$6,000/ freshmen & sophomores

 

$7,000/ juniors & seniors, credential/second bachelors

 

$12,000/ Masterís degree

Cost of attendance minus aid

Cost of attendance minus aid

Cumulative Aggregate  maximums

$27,500 undergrad

$23,000 undergrad

 

 

$65,500  Graduate

Up to$31,000/dependent undergrad.*** $57,500/independent***

$138,500.00/independent ***

NA

NA

Grace period

9 months

6 months

6 months

NA

6 months

Repayment period

to 10 years

to 10 years (standard)

to 10 years

(standard)

to 10 years

to 10 years

Minimum payments

$40/month

$50/month

$50/month

$50/month

$50/month

Other information

 

Additional repayment options beyond the 10 years may be available.

Additional repayment options beyond the 10 years may be available.

For parents of undergraduate students. Not based on financial need. Repayment begins 60 days after last disbursement. By request, parents may defer payment of principal while the student is in school.

For Masterís degree students. Not based on financial need. Repayment begins 60 days after last disbursement.

Student can defer payment of principal while in school.

*Rates Effective July-1-2009

** A 1.0% up front interest rebate will be credited if borrower makes 12 consecutive monthly payments       during repayment. This brings the net fee to .05%.  

***total includes subsidized loans.