Student Loans

• 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

• 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

• Available to students who are not U.S. Citizens

Interest Rate & Repayment