Federal Perkins Loans and Stafford Loans - December 11, 2008
Federal Perkins Loans provides with a great opportunity for students:
� Graduate Students are eligible.
� Graduate amount, up to $6,000 a year (maximum of $40,000, including undergraduate loans)
� Amount in point of fact is established according to the financial requirement for each student. This also helps the students to get amount for other aids other than for the tuition fee.
� Availability of funds through the school.
� Interest rate at 5%
� Lender is your school.
� Repayment is your school or its agent, up to 10 years to pay back, according to the amount allocated.
� Eligible for consolidation.
Stafford Loans for Graduate School Students
FFEL Stafford Loans
� Graduate students qualified will have to be enrolled at least part-time.
� Financial obligations are not compulsory; the fund is granted based on the cost of education or the program the student is attending.
� Financial requirements will be verified and the U.S. Department of Education will pay the interest that accumulates on this loan throughout the assured times.
� Private lenders offer funds that are assured by the federal government.
� Settlement is directed in the direction of the bank or private lender who prepared the loan.
� Around 10-25 years will be given to pay back the loan, according to the amount allocated and the nature of the settlement plan preferred.
� Interest might vary annually and it will depend on the position of loans (settlement, grace, etc).