Perkins Loans carry a 5 percent interest rate. Normally, repayment does not begin until nine months after graduation or when a student drops below half-time enrollment. PLUS Loans Federal Parent Loans for Undergraduate Students are awarded without regard to financial need. Parents of dependent students, may borrow up to the cost of education, minus any aid the student is eligible to receive. Repayment is not deferred.
Interest rates vary.
The rates change every July 1. The current annual interest rate on PLUS Loans is 7.72 percent. To be considered, submit a completed PLUS Loan Application to the Office of Financial Aid. The College recommends that students apply for financial aid and determine their eligibility for loans from traditional sources before pursuing alternative loans. Below, in no particular order, are a few of the alternative loans available.