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Federal Student Loans

Many college students find that government grants and scholarships simply are not enough to cover the full cost of attendance.  Federal student loans can assist with other expenses not covered by awarded grants or scholarships.  The federal government offers many student loan programs to students with financial need.  

Subsidized Federal Student Loans

  • Available to undergraduate students with financial need
  • Interest rates are fixed at 3.4%
  • Loan amounts are determined by your school
  • Loan amount cannot exceed your financial need
  • Interest is paid by the U.S. Dept of Education 
    • while your in school at least half time
    • the 1st six months after you leave school
    • during periods of deferment

 Unsubsidized Federal Student Loans

  • Available to graduate and undergraduate students with no financial need requirement
  • Interest rates are fixed at 6.8%
  • Loan amounts are determined by your school based on cost of attendance and other financial aid received
  • You are responsible for paying all interest, even while in grace or deferment
  • Interest not paid while in school will accumulate and be added to the principal balance of your loans

PLUS Loans

  • PLUS loans are federal student loans available to graduates, professional degree students, and parents of dependent undergraduate students to assist with educational expenses
  • Borrower must not have adverse credit history
  • Interest rates are fixed at 7.9%
  • Cost of attendance minus other financial aid received determines maximum loan amount

Federal Perkins Loans

  • Perkins Loans are federal student loans available to graduate and undergraduate students with exceptional financial need
  • Interest rates are fixed at 5%
  • Not all schools participate in the Perkins Loan Program
  • Your school is the lender, payments are made to the school or school's loan servicer
  • Loan amounts depend on your financial need and your school's funds availability

e-Student-Loans recommends exhausting all federal student loan options before exploring private student loan options. Should you have questions regarding federal student loans or private student loans, we suggest contacting us at 800-639-3043 to discuss student loan options or by clicking the link below to apply online.