| |
PAYMENT PLAN |
FEDERAL DIRECT PARENT LOAN
FOR UNDERGRADUATE STUDENTS (FPLUS) |
FEDERAL DIRECT STAFFORD STUDENT LOAN (SUBSIDIZED & UNSUBSIDIZED) |
| Eligibility |
Parents, Guardians, Students, Spouse |
Parents |
Student |
Maximum Annual
Limits |
College charges (tuition, fees, room, board) minus financial aid. |
Full cost of education (tuition, fees, room, board, books, travel, personal expenses) minus financial aid. |
First year =
$3,500.
Sophomore year = $4,500.
Junior & Senior years = $5,500 each. |
| Income Restrictions |
None |
None |
Subsidized:
requires demonstrated need.
Unsubsidized: none. |
| Credit Check |
No |
Yes |
No |
| Fees |
$70 |
2.5% net origination fee
(after 1.5% up-front fee rebate). |
.5%
net origination fee (after 1% up-front fee rebate). |
Interest
Rate
|
No interest |
Fixed 7.9% for
loans made between July 1, 2009 and June 30, 2012. |
Subsidized Stafford:
Fixed 5.6% for loans made between July 1, 2009 and June
30, 2010.
Unsubsidized Stafford: Fixed 6.8%. |
First
Payment |
Annual & Fall plans: July 1, 2009.
Spring plan: December 1, 2009. |
Principal &
interest repayment begins after the
loan is fully disbursed. |
Subsidized &
Unsubsidized: principal & interest begin 6 months after ceasing
half-time status. Unsubsidized:
interest begins to accrue after first disbursement. |
| Payments Per Year |
5 per semester |
12 per year |
12 per year |
Payment
Period |
Annual plan (fall &
spring): 10 months. Semester plan: 5 months. |
10 years |
10 years |
Telephone/
Web Contact |
(888) 251-3597
Tuition Management Systems (TMS)
|
(212) 854-2154
Financial Aid |
(212) 854-2154
Financial Aid |
