Available student financing programs

Federal Perkins Loan - Computed on financial need and availability of funds

• Limits: $6,000/yr max; $40,000 aggregate (including undergraduate loans)
• Interest: None while in-school; 5% during repayment
• Repayment: 9 months grace period before repayment begins; 10 years maximum

Federal Subsidized Stafford Loan - Computed on financial need

• Limits: $8,500/yr max; $65,500 aggregate (including undergraduate subsidized loans)
• Interest: None while in school at least half-time and during a six-month grace period after leaving school; during repayment, interest rate is variable and capped at 8.25%
• Repayment: 6 months grace period before repayment begins; 10 years maximum

Federal Unsubsidized Stafford Loan - Not need-based

• Limits: $18,500/yr max., less subsidized Stafford; $138,500 aggregate (including undergraduate loans; limit includes subsidized Stafford)
• Interest: Variable rate capped at 8.25%. Payment of interest begins immediately, but may be capitalized and deferred.
• Repayment: 6 month grace period on payments of principal only; 10 years maximum

GATE Student Loan - Not need-based

• Limits: Cost of education less all other financial aid received
• Interest: Variable, based on one-month. LIBOR + 3.1%; no cap
• Repayment: none during enrollment periods; interest-only in years 1-5 following graduation, principal and interest in years 6-13 following graduation.

Federal Work-Study (FWS) Research and Teaching Assistantship - Computed on availability of funds and financial need. Graduate students may be employed as research and teaching assistants. Contact your university financial aid office for availability.

Cal Grant A & B - A receipient of a Cal (California state) Grant as an undergraduate may well be eligible for a 5th year of funding, if enrolled in a teaching-credential program. The grant amount is computed on the year of the student’s first Cal Grant award.