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Student Loan Program Chart

Student Loan Program Chart
  Federal Perkins Student Loan Federal Direct Subsidized Stafford/Ford Loan Federal Direct Unsubsidized Stafford/Ford Loan Federal Direct Graduate GPLUS Health Professions Loan (HPL) Nursing Student Loan (NSL)
Lender UW Federal government federal government federal government UW UW
Interest Rate 5% 6.8% * 6.8% * 7.9% 5% 5%
Interest-free in school? Yes yes no no yes yes
Loan fees None 2.0% ** 2.0% ** 4% ** None None
Annual maximums $6,000/year as graduate/professional $8.500/grad & prof
$12,000/grad & prof *** Cost of attendance minus aid $2,500 plus tuition $2,500/first year in program $4,000/last two years in program
Cumulative maximums $40,000 undergrad & grad combined $65,500 undergrad & grad combined $138,500 undergrad & grad combined **** NA NA $13,000
Grace period 6-9 months 6 months 6 months NA 12 months 6 months
Repayment period to 10 years to 10 years to 10 years to 10 years to 10 years to 10 years
Minimum payments $40/month $50/month $50/month $50/month $40/month $40/month
Other information   Additional repayment options beyond the 10 years may be available. Additional repayment options beyond the 10 years may be available. For graduate and professional students. Repayment of principal can be deferred when enrolled at least half time. For students in Medicine, Dentistry, and Pharmacy. Parents' information required regardless of status. For undergraduate and graduate nursing students.

*Rates effective as of 7/1/08

** A 1.5% up front interest rebate will be credited to you if your first 12 monthly payments are made on time, bringing your net effective fees to .5% for Stafford borrowers and 2.5% for GPLUS.

*** May be increased by amount of unused portion of Subsidized Stafford/Ford Loan eligibility.

**** Aggregate loan amount includes Subsidized Stafford/Ford Loans.

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