Undergraduate Loan Chart

Loan Chart (2015-2016)

Federal Subsidized Stafford Loan

For the most up to date information please visit Studentaid.ed.gov.

  • Interest Rate: 4.29% fixed during in-school, grace and deferment periods. Interest is paid by the federal government.
  • Origination/ Guarantee Fees: 1.072% for new loans  (e.g. if $1000 is borrowed, $989 will be applied to the student’s Augsburg account)
  • Annual Loan Limits: Freshman – 3500, Sophomore – 4500, Junior/Senior – 5500
  • Cumulative Loan Limits: Undergraduate – $23,000
  • Grace Period: 6 Months
  • Repayment Terms: Standard repayment is 10 years following grace period, though other repayment options may be available
  • Deferment Options: Continued education, disability, and unemployment. Contact your lender for other options.

Federal Unsubsidized Stafford Loan (Dependent Students)

For the most up to date information please visit Studentaid.ed.gov.

  • Interest Rate: 4.29% fixed during in-school, grace, and deferment periods.
  • Origination/ Guarantee Fees: 1.073% (e.g. if $1000 is borrowed, $989 will be applied to the student’s Augsburg account)
  • Annual Loan Limits: Combination of subsidized and unsubsidized loans cannot exceed: Freshman – 5500, Sophomore – 6500, Junior/Senior – 7500
  • Cumulative Loan Limits: Undergraduate: $31,000 (of which, no more than $23,000 can be subsidized)
  • Grace Period: 6 Months
  • Repayment Terms: Standard repayment is 10 years following grace period, though other repayment options may be available
  • Deferment Options: Continued education, disability, and unemployment. Contact your lender for other options.

Federal Unsubsidized Stafford Loan (Independent Students or Dependent Students whose parents have been denied PLUS)

For the most up to date information please visit Studentaid.ed.gov.

  • Interest Rate: 4.29% fixed, during in-school, grace, and deferment periods.
  • Origination/ Guarantee Fees: 1.073% (e.g. if $1000 is borrowed, $989 will be applied to the student’s Augsburg account)
  • Annual Loan Limits: Combination of subsidized and unsubsidized loans cannot exceed: Freshman – 9500, Sophomore – 10500, Junior/Senior – 12500
  • Cumulative Loan Limits: $57,500 (of which, no more than $23,000 can be subsidized)
  • Grace Period: 6 Months
  • Repayment Terms: Standard repayment is 10 years following grace period, though other repayment options may be available
  • Deferment Options: Continued education, disability, and unemployment. Contact your lender for other options.

Federal PLUS Loan (for parents of dependent students)

  • Interest Rate: 6.84% fixed, during in-school, grace, and deferment periods.
  • Origination/ Guarantee Fees: 4.292% (e.g. if $1000 is borrowed, $957 will be applied to the student’s Augsburg account)
  • Annual Loan Limits: Cost of education less other aid received.
  • Cumulative Loan Limits: No Cap
  • Grace Period: No grace period, but parents can request the loan to enter forbearance through the lender.
  • Repayment Terms: Repayment begins within 60 days after final disbursement of loan funds. Up to 10 Years. See Grace Period information.
  • Deferment Options: Contact lender for deferment or forbearance options.

Private/Alternative Loans

  • Interest Rate: Variable, based on credit + PRIME or LIBOR.
  • Origination/ Guarantee Fees: Varies by lender.
  • Annual Loan Limits: Cost of education less other aid received.
  • Cumulative Loan Limits: Varies by lender.
  • Grace Period: Varies by lender.
  • Repayment Terms: Varies by lender.
  • Deferment Options: Varies by lender.