| 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. |
.5% (e.g. if $1000 is borrowed, $995 will be applied to the student's Augsburg account) |
$8,500 |
$65,500 |
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 |
6.8% fixed, during in-school, grace, and deferment periods. |
Same as Federal Subsidized Stafford Loan |
Combination of subsidized and unsubsidized loans cannot exceed: $20,500. |
Graduate: $131,000 (of which, no more than $65,000 can be subsidized) |
6 months |
Same as Federal Subsidized Stafford Loan |
Same as Federal Subsidized Loan |
| Federal Graduate PLUS Loan |
7.9% fixed, during in-school, grace, and deferment periods. |
2.5% (e.g. if $1000 is borrowed, $975 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. |
