2014-2015 Academic Year

Plan Processor Payments Due First Payment Due Years to Pay Fees Interest Charged
Perkins Loan Drew Quarterly 9 months after leaving college 10 None 5% annual rate
Direct Subsidized Loan Federal Department
of Education
Monthly 6 months after leaving college 10 1.073% origination fee deducted from total loan amount 3.4% interest rate (undergraduate)6.8% interest rate (graduate/professional)
Direct Unsubsidized Loan Federal Department
of Education
Monthly Interest due either from the date of distribution, or if capitalized, after
in-school and
grace periods
10 1.073% origination fee deducted from total loan amount 6.8% interest rate
Direct
PLUS Loan
Federal Department of Education Monthly 60 days after disbursement 10 4.292% origination fee deducted from total loan amount, 1% guarantor fee deducted from total loan amount 7.9% interest rate
Direct Graduate PLUS Loan Federal Department of Education Monthly 60 days after disbursement 10 4.292% origination fee deducted from total loan amount, 1% guarantor fee deducted from total loan amount 7.9% interest rate