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Loans Available at ATSU

Federal

Subsidized Federal Stafford Loan

Amount: An $8,500 per year maximum exists, with the aggregate for undergraduate and graduate studies at $65,500.

Interest: Interest does not begin accruing for borrowers until repayment begins. The interest rate throughout repayment is fixed at 6.8%.

Conditions: The borrower must fill out a FAFSA need analysis to demonstrate financial need. This loan is given out in equal disbursements when tuition is due.

Repayment: The borrower has up to 10 years to repay this loan. Each borrower will go into repayment six months following graduation or withdrawal. If a borrower experiences financial difficulty, forbearance may be requested.

Grace Period: Each borrower has a six-month grace period for the Subsidized Federal Stafford Loan. The grace period must be used up before the borrower is eligible for deferment or forbearance.

Fees: No origination fees are taken out if the student borrows through the NOWLoan$ program, where ATSU is the lender.

Unsubsidized Federal Stafford Loan

Amount: A $10,000 per year maximum exists in addition to the Subsidized Federal Stafford Loan. The maximum is increased to $18,500 per year if the borrower is not eligible for a Subsidized Federal Stafford Loan. The total aggregate for Subsidized and Unsubsidized loans during undergraduate and graduate studies is $138,500.

Interest: Interest begins accruing for the borrower when funds are wired to the school. The interest rate throughout repayment is fixed at 6.8%.

Conditions: The borrower must fill out a FAFSA need analysis to determine the financial need. This loan can be used to replace an expected family contribution. It is given out in equal dibursements based on when tuition is due.

Repayment: The borrower has up to 10 years to repay this loan. Each borrower will go into repayment six months following graduation or withdrawal. A borrower experiencing financial difficulty may request forbearance.

Grace Period: Each borrower has a six-month grace period for the Unsubsidized Federal Stafford Loan. The grace period must be used up before the borrower is eligible for deferment or forbearance.

Fees: No loan origination fees are taken out if the student borrows through the NOWLoan$ program.

Federal Graduate PLUS Loan

Amount: Up to Cost of Education minus other financial assistance

Interest: Interest begins accruing for the borrower when funds are wired to the school. The interest rate throughout repayment is fixed at 8.5%.

Repayment: The borrower has up to 10 years to repay this loan. Deferment and forbearances are available during post-graduate training.

Fees: 3% is shaved off of all PLUS funds as an origination fee.

Private

Signature Student Loan

Amount: The borrower may receive funds up to the cost of attendance, minus other financial assistance received.

Interest: Interest begins accruing for the borrower when funds are wired to the school. The interest rate is based on the prime rate and the borrower's credit history.

Conditions: Students must pass the lender's credit check to be approved for this loan.

Repayment: The borrower has up to 15 years to repay this loan. A borrower may choose graduated repayment if necessary.

Grace Period: Each borrower has a six-month grace period for the Signature Student Loan.

Fees: There are no fees with the Signature Student Loan. Instead, the fees are added on before repayment, based on borrower's credit history. This loan is not paid off if the borrower dies.