This list does not contain complete information about the loans, so additional information should be obtained from the Financial Aid Office before making a final loan decision.
Federal/State Loan Options
Completing Entrance Counseling and signing a Master Promissory Note are initial 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 half-time status, students with any Federal Student Loans must also complete Exit Counseling.
| Loan |
Who |
Priority |
Limit |
Interest Rate |
Deadline |
Repayment |
| Federal Perkins |
at least half-time degree-seeking student |
financial need |
$30,000
Lifetime limit |
5% |
first-come |
begins 9 mo. after you graduate, leave school, or drop below half-time status |
| Subsidized Federal Stafford |
at least half-time degree-seeking student |
financial need |
$8,500/yr
$65,500/total |
Fixed at 6.8% |
NA |
begins 6 mo. after you graduate, leave school, or drop below half-time status |
| Unsubsidized Federal Stafford |
at least half-time degree seeking student |
NA |
same as Federal Stafford but additional yearly amounts available for independent students |
Fixed at 6.8% |
NA |
you pay interest during in-school and deferment periods, otherwise same as Federal Stafford |
| SC Teachers Loan/Career Changers |
SC residents enrolled at least half-time |
First come, first served |
$15,000/yr
$60,000/career |
current Stafford Rate Plus 2% |
June 1 |
Loan can be cancelled at rate of 20% or 33% per year if you meet teaching obligations. |
Private Loan Options
Private educational loans or alternative loans are available through many different lenders. We recommend that you explore the Federal Programs first as their terms and conditions are generally the most favorable.
