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Federal student loan interest rates are fixed for the life of the loan; however, the rates for new loans will change annually, based on the current market. The interest rates for the 2013–2014 academic year are as follows: 3.86% for undergraduate Stafford Loans (both subsidized and unsubsidized) 5.41% for graduate Stafford Loans [6]
Accrued interest is added to the loan amount, and the borrower makes payments on the total. Students can make payments while studying. Graduate students have higher limits: $8,500 for subsidized Stafford and $12,500 (varying by course of study) for unsubsidized Stafford. For graduate students, the Perkins limit is $6,000 per year.
There are no limits on the amount borrowed up to the cost of attendance minus other financial aid. Living expenses are considered part of the cost of attendance. The repayment schedule for Direct PLUS Loans disbursed on or after July 1, 2008 is the same as the schedule for Stafford loans.
The fixed interest rate on federal student loans will climb to 6.53% for undergraduate loans — up from 5.5% last year. The new higher rate applies to Federal Direct Stafford loans for ...
Federal Perkins Loan. A Federal Perkins Loan, also referred to as a Perkins Loan, was a need-based student loan offered by U.S. Department of Education from 1958 until 2017. [ 1] Created as part of the Federal Direct Student Loan Program, the Perkins Loan served to assist American college students fund their post-secondary education.
Jumbo loans come in larger amounts, typically for more expensive properties. The size of a jumbo loan varies by geographic location, but is generally more than $766,550 in most parts of the U.S ...
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