Comparing student loan options

Loans for graduate school.

Federal student loansPrivate student loans
Stafford Loan Graduate PLUS LoanSignature Student Loan
Interest rate

The interest rate on subsidized Stafford loans for undergraduate students that are first disbursed July 1, 2008–June 30, 2009 is 6%. For all subsidized Stafford loans for graduate and professional students, and for all unsubsidized Stafford loans for all students, the interest rate is fixed at 6.8%.

Rates on Graduate PLUS loans are fixed at 8.5%.

The Signature Student Loan features interest rates that reward good credit.

The interest rate is based on the one-month London Interbank Offered Rate (LIBOR) plus a margin depending on your and/or any cosigner's credit history.

Interest rates are variable and reset monthly.

Origination fees

For loans first disbursed July 1, 2008–June 30, 2009: Up to 2% in fees that includes a 1% federal origination fee and a 1% federal default fee.

There is a 3% origination fee charged by the federal government and a 1% federal default fee.

Loan fees are 0%–6%.
Annual loan limits

$20,500 each year

Aggregate loan limit
Graduate or professional limit $138,500

Exceptions may apply for certain graduate programs.

Borrow up to the full cost of your education as certified by your school, less other aid received.

Minimum: $1,000

Borrow as much as you need to pay for your education, up to the cost of attendance as certified by your school and confirmed by Sallie Mae, less other financial aid received.*

Repayment
Six months after student graduates, withdraws, or attends school less than half time.Repayment on PLUS loans begins within 60 days after the final disbursement of the loan. Graduate PLUS loans, for borrowers who are certified by their school to be attending at least half time, will be placed into in-school deferment. No payments are required during in-school deferment. Payments begin after in-school deferment ends.No payments are required while in school.1

Several repayment options are available, including standard, interest-only, and extended repayment.

Consider making interest payments while you are in school to lower the amount you must pay back.

Prepay your loan at any time without penalty.

* Sallie Mae reserves the right to approve a lower loan amount than what the school has certified.

1 Deferring payments while in school will increase overall loan costs. Unpaid interest that accrues while you are in school will be capitalized (added to your loan amount) at repayment.

Signature Student loans are funded by Sallie Mae Bank® or a Sallie Mae lender partner. Terms and conditions apply.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN DISBURSEMENT DATE TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING LOAN PROGRAMS.

Sallie Mae, Sallie Mae Bank, and Signature Student loans are registered service marks of Sallie Mae, Inc.


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