This Student Loan Chart provides details on interest rates and repayment terms.

The Federal Perkins Loan is based on financial need, and you borrow it directly from the college. Interest accrues when repayment begins.

Federal Stafford Loan (or Direct Loan): Some colleges have you borrow from your lender (Federal Family Education Loan Program - FFELP), while others have you borrow from the federal government (Direct Loan). Your award letter from the college will supply this information.

The Stafford Loan offers two options, depending on your eligibility.

Subsidized Stafford Loan (or Direct Loan): You may qualify for this loan if you demonstrate financial need. You don't pay interest while in school, or during grace or deferment periods - the government pays it for you.

Interest:	6.8% fixed rate – changing to 6% fixed rate July 1, 2008
Fees:	FFELP: 1.5% origination fee and 1% federal default fee will be deducted from the loan amount. Direct Loan: 2.5% federal default fee will be deducted from the loan amount.
Loan limit:	Maximum subsidized loan amounts: Year 1 - $3,500 Year 2 - $4,500 Years 3, 4, 5 - $5,500 Graduate - $8,500
Repayment:	Begins 6 months after you graduate or drop below half-time status. You have up to 10 years to repay the loan at a minimum of $50 per month.

Unsubsidized Loan (or Unsubsidized Direct): You pay all interest, but you can add the interest to the loan (capitalize) to avoid payments while in school.

Interest:	6.8% fixed rate
Fees:	FFELP: 1.5% origination fee and 1% federal default fee will be deducted from the loan amount. Direct Loan: 2.5% federal default fee will be deducted from the loan amount.
Loan limit:	Maximum combined subsidized and unsubsidized loan amounts: Year 1 - $3,500 Year 2 - $4,500 Years 3, 4, 5 - $5,500 Graduate - $8,500 For dependent students, the amount borrowed from the subsidized and unsubsidized loans combined may not exceed the above limits.   Independent students may be eligible for additional unsubsidized loan funds: Years 1-2, $4,000 Years 3, 4, 5 - $5,000 Graduate - $12,000
Repayment:	Begins 6 months after you graduate or drop below half-time status. You have up to 10 years to repay the loan at a minimum of $50 per month.

The Federal PLUS Loan (or Direct PLUS Loan) This loan will help your parents pay your college expenses. Colleges participating in FFELP (Federal Family Education Loan Program) have parents borrow from a lender; colleges participating in the Direct Loan Program have parents borrow from the federal government.

Interest:	8.5% fixed rate – FFELP; 7.9% fixed rate – Direct Loan.
Fees:	FFELP: 1.5% origination fee and 1% federal default fee will be deducted from the loan amount. Direct Loan: 2.5% federal default fee will be deducted from the loan amount.
Loan limit:	Parents may borrow up to the cost of education minus other financial aid. The parent borrower must be credit worthy.
Repayment:	Repayment begins within 60 days after the loan is fully disbursed, so payments start while the student is still enrolled. The parent borrower has up to 10 years to repay the loan with a $50 minimum monthly payment.