Please inquire in your financial Aid Office for more information. This means that the federal government will pay for the interest on the loan while the student attends college. Repayment on the loan begins six months after graduation or termination of half-time status. An Unsubsidized Federal Direct Stafford Loan does not have a federal interest subsidy, and interest accrues to the account from the time the loan is paid to the student s account. The loan servicer will bill the student for the interest quarterly, and while enrolled at least half-time the student may opt to have the interest capitalized or added onto the principal of the loan.
PLUS loans are available for parents of all dependent students.
For 2001-2002 the amount of eligibility will be determined by the cost of attendance minus other financial aid. Parents who have no adverse credit history are eligible to apply for PLUS loans. Repayment on PLUS begins 60 days after the loan is disbursed. The maximum amount of TAP award for the 2001-2002 year has not been determined. Eligibility is based upon income and economic criteria.