2015-2016 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 1.068% origination fee deducted from total loan amount 4.29% interest rate (undergraduate)
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 1.068% origination fee deducted from total loan amount

4.29% interest rate (undergraduate)

5.84% interest rate (graduate/professional)

Direct
PLUS Loan
Federal Department of Education Monthly 60 days after disbursement 10 4.272% origination fee deducted from total loan amount 6.84% interest rate
Direct Graduate PLUS Loan Federal Department of Education Monthly 60 days after disbursement 10 4.272% origination fee deducted from total loan amount 6.84% interest rate