You do not have to repay this loan until the student graduates or leaves school. The standard interest rate is 8 percent. Students who are not listed as a dependent on their parents' federal income tax report are eligible for these loans. You do not have to qualify by a needs test. The maximum interest rate is 12 percent.
Payments begin when the student leaves or graduates from school.
The maximum interest rate is 12 percent. A credit check is required. The school's financial aid office administers this program. In addition, a variety of other loan programs are available. State-sponsored loans are usually administered by one of the state offices or by the school itself.