Subsidized Stafford Loans Interest is paid by the federal government while attending at least half-time, during the grace period and during periods of deferment. Repayment begins 6 months after you graduate, leave school or drop below half-time enrollement. Unsubsidized Stafford Loans You are responsible for paying the interest which begins accruing at the time of your loan disbursement. You may have made in-school payments, but you also had the option to defer the interest and have it added to the principal balance (Capitalization) Interest Rates:Interest rates on student loans are typically lower than those involving other types of credit. For Stafford loans with a first disbursement prior to July 1, 2006, the interest rate is variable and adjusted annually, not to exceed 8.25 percent; for loans first disbursed on or after July 1, 2006 the interest rate is fixed at 6.8 percent. No interest accrues during in-school or grace period Subsidized Stafford Loan Interest accrues during in-school or grace period Unsubsidized Stafford Loan No interest capitalization during in-school period Loan Fees: Origination and Default fees charged by the federal government to help defray the cost of subsidizing a loan. The fee is deducted directly from your disbursement and may be up to 3 percent of the amount borrowed. Grace Period: After you graduated, leave school or drop below half-time enrollment, certain loans offer a grace period. During this time - which is typically six months you are not expected to make payments. You may have taken out loans during undergraduate studies or during a separate period of enrollment. If you have previoulsy entered repayment on these loans, you may have already exhausted the grace period. Check with your lender for further details. Repayment Information Up to 10 year repayment term in Standard Repayment Plan $50 minimum monthly payment in Standard Repayment Plan Graduated, Extended, and Income Sensitive Repayment plans also available Deferments available for qualified periods of enrollment, unemployment, and economic hardship (see promissory note for details) Loans may be consolidated No prepayment penalty Borrow Benefits: Varaies with each lender Annual Loan Limit: $20,500 ($8,500 subsidized and $12,000 unsubsidized Stafford loans begining July 1, 2007) Eligibility: Borrowers must be enrolled at least half-time Based on financial need as determined by Federal Need analysis form through FAFSA 5 to 10 year repayment term, depending on total amount outstanding Introducing the New Grad PLUS Loan! Graduate and professional students now have a low-cost option when it comes to financing their education. Unlike other federal student loans, the Grad PLUS loan is not based on financial need; credit guidelines apply in determining eligibility. While credit-based, it's much easier to qualify for the Grad PLUS loan as oppposed to other loans you may have applied for in the past. Grad PLUS loans allow you to borrow up to 100% of the cost of your education, minus other financial aid you receive. Tuition, fees, room and board, books, supplies, and transportation can be covered. Unlike the alternative loan program, Grad PLUS can be consolidated with your Stafford loans, making the repayment process much more convenient. PGI is working with several Grad PLUS lenders; each has been chosen for its exemplary service. Choosing a lender is your decision. The information provided here is designed to help you choose the lender that best meets your needs. In order to apply with any of our preferred lenders, simply click on the "Apply Online" link and complete the PLUS application.
Unsubsidized Stafford Loans
Interest Rates:Interest rates on student loans are typically lower than those involving other types of credit. For Stafford loans with a first disbursement prior to July 1, 2006, the interest rate is variable and adjusted annually, not to exceed 8.25 percent; for loans first disbursed on or after July 1, 2006 the interest rate is fixed at 6.8 percent.
Loan Fees: Origination and Default fees charged by the federal government to help defray the cost of subsidizing a loan. The fee is deducted directly from your disbursement and may be up to 3 percent of the amount borrowed. Grace Period: After you graduated, leave school or drop below half-time enrollment, certain loans offer a grace period. During this time - which is typically six months you are not expected to make payments. You may have taken out loans during undergraduate studies or during a separate period of enrollment. If you have previoulsy entered repayment on these loans, you may have already exhausted the grace period. Check with your lender for further details. Repayment Information Up to 10 year repayment term in Standard Repayment Plan $50 minimum monthly payment in Standard Repayment Plan Graduated, Extended, and Income Sensitive Repayment plans also available Deferments available for qualified periods of enrollment, unemployment, and economic hardship (see promissory note for details) Loans may be consolidated No prepayment penalty Borrow Benefits: Varaies with each lender Annual Loan Limit: $20,500 ($8,500 subsidized and $12,000 unsubsidized Stafford loans begining July 1, 2007) Eligibility: Borrowers must be enrolled at least half-time Based on financial need as determined by Federal Need analysis form through FAFSA 5 to 10 year repayment term, depending on total amount outstanding Introducing the New Grad PLUS Loan! Graduate and professional students now have a low-cost option when it comes to financing their education. Unlike other federal student loans, the Grad PLUS loan is not based on financial need; credit guidelines apply in determining eligibility. While credit-based, it's much easier to qualify for the Grad PLUS loan as oppposed to other loans you may have applied for in the past. Grad PLUS loans allow you to borrow up to 100% of the cost of your education, minus other financial aid you receive. Tuition, fees, room and board, books, supplies, and transportation can be covered. Unlike the alternative loan program, Grad PLUS can be consolidated with your Stafford loans, making the repayment process much more convenient.
Grace Period:
Repayment Information
Borrow Benefits:
Annual Loan Limit:
Eligibility:
Introducing the New Grad PLUS Loan!
Graduate and professional students now have a low-cost option when it comes to financing their education. Unlike other federal student loans, the Grad PLUS loan is not based on financial need; credit guidelines apply in determining eligibility. While credit-based, it's much easier to qualify for the Grad PLUS loan as oppposed to other loans you may have applied for in the past. Grad PLUS loans allow you to borrow up to 100% of the cost of your education, minus other financial aid you receive. Tuition, fees, room and board, books, supplies, and transportation can be covered. Unlike the alternative loan program, Grad PLUS can be consolidated with your Stafford loans, making the repayment process much more convenient.
PGI is working with several Grad PLUS lenders; each has been chosen for its exemplary service. Choosing a lender is your decision. The information provided here is designed to help you choose the lender that best meets your needs. In order to apply with any of our preferred lenders, simply click on the "Apply Online" link and complete the PLUS application.
Terms
If you are interested in finding out more about the Grad PLUS loan option, please contact Claudia Rubio at (818) 386-5635 or at crubio@pgi.edu.
Private Alternative Loans
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