| 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.