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Graduate/Professional Loan Comparison Chart

Loan TypeFederal Direct Unsubsidized LoanFederal Direct Graduate/Professional PLUS LoanPrivate Loans
Interest Rates6.54% fixed rate (effective 7/1/2022)7.54% fixed rate, payable from date of first loan disbursement (effective 7/1/2022)Varies, based on the lender and the credit scores of borrower (and co-signer)
EligibilityMust complete FAFSA and have at least half-time enrollmentMust complete FAFSA, must be a graduate or professional student, be at least half-time enrollment, and must be credit worthyVaries
LenderU.S. Department of EducationU.S. Department of EducationVaries
Loan Amount (Annual maximum)$20,500Total cost of attendance (COA) minus all other accepted aidVaries
Aggregate Limits$138,500 - No more than $65,000 of this amount may be in subsidized loans. The graduate debt limit includes loans received for undergraduate studyNoneVaries
Fees1.057% after October 1, 2020, and before October 1, 20234.228% after October 1, 2020, and before October 1, 2023Varies
Principal Repayment6 months after graduating or dropping below half-time enrollment60 days after final disbursement per loan - Current students may request an in-school defermentVaries
Other ConsiderationsNO cosigner needed, may consolidate, no credit-check required, accrues interest while in school, may postpone in-school interest repaymentsBorrower must pass credit check, if credit check fails, an endorser may be obtained, borrower is responsible for repayment, may consolidateVaries

For additonal information, please visit the Federal Student Aid website for federal loans and FASTChoice for private loans. 

Important Dates