Financial Aid for College
- ABCs of Financial Aid
- Positioning Your Income and Assets to Enhance Financial Aid Eligibility
- Major Federal Financial Aid Programs
|Direct Unsubsidized Stafford Loan||Direct Subsidized Stafford Loan||Perkins Loan||Direct PLUS Loan|
|Description||A federal student loan available to students regardless of financial need||A federal student loan available to students with financial need||A federal student loan available to students with the greatest financial need||A federal loan available to parents and students with good credit histories regardless of financial need|
|Available to||Undergraduate and graduate students enrolled at least half-time||Undergraduate students only enrolled at least half-time||Undergraduate and graduate students (can be less than half-time)||Parents of undergraduate students enrolled at least half-time, and graduate and professional students|
|Lender||Federal government only||Federal government only||College||Federal government only|
|Borrower||Student||Student||Student||Parent or graduate/ professional student|
|Based on financial need||No||Yes||Yes||No|
|Interest rate for loans disbursed academic year 2016/2017||3.76% fixed for undergraduates; 5.31% fixed for graduate students||3.76% fixed||5% fixed||6.31% fixed|
|Grace period||6 months||6 months||Generally 9 months||6 months|
|Loan limits for academic year 2016/2017|
Dependent undergraduates: 1st year - $5,500 ($3,500 subsidized), 2nd year - $6,500 ($4,500 subsidized), 3rd to 5th year - $7,500/year ($5,500 subsidized), $31,000 maximum
Independent undergraduates and dependent undergraduates whose parents don't qualify for PLUS loans: 1st year - $9,500 ($3,500 subsidized), 2nd year - $10,500 ($4,500 subsidized), 3rd to 5th year - $12,500/year ($5,500/year subsidized), $57,500 maximum
Graduate students: $20,500 per year, $138,500 maximum including undergraduate loans
Student's total cost of education, minus any other financial aid received
1The federal government pays the interest on the loan while the student is in school at least half-time, in a grace period, or in a deferment period.
Capital Asset Management is a marketing name. Securities and investment advisory services offered through FSC Securities Corporation, member FINRA / SIPC and a registered investment advisor. 3636 N Roff Avenue, Oklahoma City, OK 73112
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual's personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.