Federal Stafford Loan
Types
- Subsidized (need based)
- Loan principal is deferred and the government pays the interest on the loan while you are enrolled at least half-time.
- Unsubsidized (non-need-based)
- Loan principal may be deferred but interest accrues. If you choose to defer interest, it will be added to the principal of the loan.
Interest Rate & Repayment
- 6.80% interest for loans disbursed after July 1, 2007. 6.00% for subsidized loans after July 1, 2008. Unsubsidized loans will still be 6.80%.
- Fixed interest rate
- Standard ten-year repayment begins six months after graduation, or ceasing to be enrolled at least half-time. Other repayment options may be available through the servicing agent.
- Deferments are granted while you are in college and for graduate or professional study or for economic hardship as defined by the Department of Education.
Maximum Loan Amounts
- First Year: $3,500
- Sophomore: $4,500
- Junior: $5,500
- Senior: $5,500
- Graduate Students: $20,500
Processing
- Wesleyan will process any approved Master Promissory Note it receives from a borrower. To ensure timely processing, start the application process by July 15th.
- You are encouraged to research your state loan agency for programs available to residents.
- Wesleyan researched
lenders that submitted information to the office. From
this research, a list of suggested lenders has been assembled.
You are not obligated to use any of the lenders on this list,
but you are encouraged to use it as a comparison tool.
Suggested Federal Stafford Loan Lenders
Federal Stafford Loan Disclosure Statement
Federal Perkins Loan
General
- The Department of Education annually allocates Wesleyan University a limited amount of Federal Perkins Loan.
- Wesleyan uses Campus Partners to process and service this loan.
Interest Rate & Repayment
- 5% fixed interest
- Ten-year repayment begins nine months after graduation.
- Deferments are granted while you are in college and for graduate or professional study or for economic hardship as defined by the Department of Education.
- Cancellation provisions for designated areas of primary and secondary school teaching, Peace Corps and domestic service volunteers as well as careers in law enforcement.
Federal Perkins Loan Disclosure Statement
Wesleyan Loan (institutional)
General
- Available to students who are not U.S. Citizens
Interest Rate & Repayment
- 8% fixed interest
- Ten-year repayment beginning nine months after graduation.
- Deferments are granted while you are in college and for graduate or professional study or for any reason that will cause the borrower economic hardship.







