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Your loan is an investment in your future. Your experience at Washington
University will pay dividends during your college years and for the rest of
your life! You may not have to pay principal or interest while you're in
school, and when your payments begin your annual interest rates are low. Nearly
100 percent of our former student borrowers are now repaying their loans
successfully.
Federal Perkins Loan
A Federal Perkins Loan is a low-interest loan awarded on the basis of financial
need. The amount you can borrow annually is up to $4,000 for each year of
undergraduate study. You will not be charged interest before you begin
repayment or during authorized periods of deferment.
To learn more, visit www.ed.gov.
Subsidized Federal Stafford Loan
A subsidized loan is awarded on the basis of financial need. You will not be
charged any interest before you begin repayment or during authorized periods of
deferment. The federal government "subsidizes" the interest during these
periods.
The amount you can borrow annually is up to:
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$3,500 if you're a first-year student enrolled in a program of study that is at
least a full academic year. (Freshmen)
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$4,500 if you've completed your first year of study and the remainder of your
program is at least a full academic year. (Sophomore)
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$5,500 if you've completed two years of study and the remainder of your program
is at least a full academic year. (Junior/Senior)
To learn more, visit www.ed.gov.
Unsubsidized Federal Stafford Loan
An unsubsidized loan is not awarded on the basis of need. You'll be charged
interest from the time the loan is disbursed until it is paid in full.
If you allow the interest to accumulate while you are in school or during other
periods of nonpayment, it will be capitalized--that is, the interest will be
added to the principal amount of your loan and additional interest will be
based upon the higher amount. Or, you may choose to pay the interest during
these periods.
To learn more, visit www.ed.gov.
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