He or she is not required to begin repaying the principal of the loan until six months after graduation. However, students may go into premature repayment if they drop below half-time enrollment prior to graduation. The interest rate for an unsubsidized federal Stafford Loan is variable, capped at 8.25 percent. Commercial Educational Loans. These loans are offered by various financial institutions and are in addition to and distinct from the federally-funded loan programs.
Terms vary among plans.
The most recent information is available from the Office of Financial Aid. Fuller Seminary Short-Term Loans. These loans are designed to meet emergency needs and are without interest if repaid within 60 days. They are not designed to pay tuition, bookstore or housing accounts, and depend upon funds available. Application may be made in the Office of Financial Aid.