| Loan Program |
Interest Rate |
Origination/ Guarentee Fees |
Annual Loan Limits |
Cumulitive Loan Limits |
Grace Period |
Repayment Terms |
Deferment Options |
| Federal Subsidized Stafford Loan |
6.8% fixed, during in-school, grace and deferment periods. Interest is paid by the federal government. |
1% (e.g. if $1000 is borrowed, $990 will be applied to the student's Augsburg account) |
Freshman - 3500 Sophomore - 4500 Junior/Senior - 5500 |
Undergraduate: $23,000 |
6 months |
Standard repayment is 10 years following grace period, though other repayment options may be available. |
Continued education, disability, and unemployment. Contact your lender for other options. |
| Federal Unsubsidized Stafford Loan (Dependent Students) |
6.8% fixed, during in-school, grace, and deferment periods. |
Same as Federal Subsidized Stafford Loan |
Combination of subsidized and unsubsidized loans cannot exceed: Freshman - 5500 Sophomore - 6500 Junior/Senior - 7500 |
Undergraduate: $31,000 (of which, no more than $23,000 can be subsidized) |
6 months |
Same as Federal Subsidized Stafford Loan |
Same as Federal Subsidized Loan |
| Federal Unsubsidized Stafford Loan (Independent Students or Dependent Students whose parents have been denied PLUS) |
6.8% fixed, during in-school, grace, and deferment periods. |
Same as Federal Subsidized Stafford Loan |
Combination of subsidized and unsubsidized loans cannot exceed: Freshman - 9500 Sophomore - 10,500 Junior/Senior - 12,500 |
$57,500 (of which no more than $23,000 can be subsidized) |
6 months |
Same as Federal Subsidized Stafford Loan |
Same as Federal Subsidized Loan |
| Federal PLUS Loan (for parents of dependent students) |
7.9% fixed, during in-school, grace, and deferment periods. |
4% (e.g. if $1000 is borrowed, $960 will be applied to the student's Augsburg account) |
Cost of education less other aid received. |
No Cap |
No grace period, but parents can request the loan to enter foreberence through the lender. |
Repayment begins within 60 days after final disbursement of loan funds. Up to 10 Years. See Grace Period information. |
Contact lender for deferment or forbearance options. |
| Private/Alternative Loans |
Variable, based on credit + PRIME or LIBOR. |
Varies by lender. |
Cost of education less other aid received. |
Varies by lender. |
Varies by lender. |
Varies by lender |
Varies by lender. |
