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Student Loan Program Chart

Student Loan Program Chart
  Federal Perkins Student Loan Federal Direct Subsidized Undergraduate Stafford/Ford Loan Federal Direct Unsubsidized Undergraduate Stafford/Ford Loan Federal Direct PLUS Nursing Student Loan (NSL)
Lender UW Federal government Federal government Federal government UW
Interest Rate 5% 3.86% -- loans first disbursed between 7/1/2013 - 6/30/2014
4.66% -- loans disbursed on or after 7/1/2014
3.86% -- loans first disbursed between 7/1/2013 - 6/30/2014
4.66% -- loans disbursed on or after 7/1/2014
6.41% -- loans first disbursed between 7/1/2013 - 6/30/2014
7.21% -- loans disbursed on or after 7/1/2014
5%
Interest-free in school? Yes Yes No No Yes
Loan fees None 1.072% 1.072% 4.288% none
Annual maximums $5,500/year as undergraduate $3,500/freshmen
$4,500/sophomores
$5,500/juniors & seniors
Dependent Students - $2,000 **
Independent Students - $6,000 / freshmen & sophmores
$7,000 / juniors & seniors **
Cost of attendance minus aid $3,300/first two years in program $5,200/last two years in program
Cumulative maximums $27,500 undergrad $23,000 undergrad $31,000/dependent undergrad ***
$57,500/independent undergrad ***
NA $17,000
Grace period 6-9 months 6 months 6 months NA 9 months
Repayment period 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
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. Parents can defer payment of principal while the student is in school. Additional repayment options beyond the 10 years may be available. For undergraduate nursing students.

** May be increased by amount of unused portion of Subsidized Stafford/Ford Loan eligibility. Dependent students may receive up to the Subsidized Stafford/Ford annual maximums in any combination of subsidized and unsubsidized loans and an additional $2000 in Unsubsidized Stafford Loan, with a possible increase if their parents have been denied the Parent Loan (PLUS).

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