Loans

This list does not contain full information about the loans, so additional information should be obtained from the Financial Aid Office before making a loan decision.

Completing Entrance Counseling and signing a Master Promissory Note are intitial requirements for all Federal Stafford and Direct Student Loans.
** Those loans will not be paid to the account until the Requirements are met.**

Upon graduation, leaving school, or dropping below 1/2 time status, students with any Federal Student Loans must also complete Exit Counseling.

Loan	Who	Priority	Limit	Interest Rate	Deadline	Repayment
Federal Perkins	at least1/2 time degree seeking student	financial need	$15,000	5%	first-come	begins 9 mo. after you graduate, leave school, or drop below half-time status
Federal Stafford	at least 1/2 time degree-seeking student	financial need	$2,625/yr, freshman $3,500/yr, sophomore $5,500/yr, all other years $23,000, total	variable, not to exceed 8.25%	NA	begins 6 mo. after you graduate, leave school, or drop below half-time status
Unsubsidized Federal Stafford	at least 1/2 time degree seeking student	NA	same as Federal Stafford but additional yearly amounts available for independent students	variable, not to exceed 8.25%	NA	interest paid during in-school and deferment periods, otherwise same as Federal Stafford
Federal PLUS	parent of student	NA	up to the total cost of education minus other financial aid resources	variable, not to exceed 9%	NA	begins 60 days after loan disbursement
Federal Direct	freshman student and/or parents	NA	same as Federal Stafford	variable, not to exceed 8.25%	NA	begins 6 mo. after you graduate, leave school, or drop below half-time status
South Carolina Teacher	resident of SC studying to become a SC certified public school teacher	NA	$2500/yr, freshman and sophomores $5000/yr, juniors and seniors	12% or rate of any other outstanding teacher loan	March 15	If you become certified to teach according to the rules of the program, the loan may be cancelled at 20% per year of teaching, up to 100%

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