The applicable rate of interest is variable, adjusted annually on July 1, not to exceed 8.25 percent. Students whose need is less than the loan limits for the federal Stafford Loan will be able to borrow up to those loan limits under the Unsubsidized Stafford Loan Program. The Perkins Loan Program, by federal regulations, mandates that priority for Perkins Loans be assigned to students who show exceptional need. Repayment of interest and principal is deferred while the student is registered at least half time. Demonstrated financial need Financial status verified by the School's Office of Student Financial Services Loan Consolidation Loan consolidation is the process of refinancing multiple federal educational loans into one new loan with a new repayment term and interest rate.
Consolidation can provide borrowers with some relief from high payments.
Married couples may consolidate their individual loans into one joint loan. You may contact your lender's consolidation department to request an application.