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| Phone: 1-800-841-5722
Email: financialaid@stillman.edu |
Loans The Federal Perkins Loan is based on exceptional financial need and availability of funds. The loan has an interest rate of 5%. Loan repayment begins nine months after graduation or at such time a student is no longer enrolled at least half time. The Federal Direct Stafford/Ford Loan is based on financial need. If you are receiving this loan you will receive a set of promissory notes to sign and return to this office. The interest rate is variable. Repayment begins within six months after the student is no longer enrolled. The Unsubsidized Federal Direct Stafford/Ford Loan is a loan program which is not based on need. It is designed to make loans available to students who don't qualify for a traditional Federal Direct Stafford/Ford Loan. Students may defer principal amount borrowed but interest accrues while they are enrolled. The Federal Direct Parent Loan for undergraduate students (PLUS) allows the parent or legal guardian of a dependent student to borrow up to the estimated cost of attendance minus other types of aid to pay for educational expenses. This loan has a variable interest rate set annually by the Federal government with a cap of 9%. The repayment period begins within 60 days after the second disbursement of the loan. The typical repayment is 10 years with an extended period available in some circumstances.
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