federal loans
for undergrads, grad students and parents:
federal loans to meet your needs.
The parent company of Upromise and the nation's leading provider of student loans, Sallie Mae has helped millions of Americans achieve their dreams of a higher education. In addition to offering a full array of education financing options, Sallie Mae provides tools and resources to help families at every step of the planning, saving and paying for college process.
» Federal Parent PLUS loan
» Federal Graduate PLUS loan
Sallie Mae Federal Stafford Loan
Federal Stafford Loans are fixed-rate, low interest loans available to undergraduate students attending accredited schools at least half time. Stafford loans are the most common source of college loan funds.- Subsidized Stafford Loans are need-based and interest does not accrue on these loans while the borrower is in school, during a six-month grace period immediately preceding repayment, and during authorized periods of deferment.
- Unsubsidized Stafford Loans are not need-based, and the borrower is responsible for all of the interest that accrues on the loan[1] .
- Loans can be used to cover tuition, room and board and other education-related expenses.
- No payments are required while the student is enrolled at least half-time.
- The interest rate on Subsidized Stafford Loans first disbursed 7/1/2008-6/30/2009 to undergraduate students is fixed at 6% and the interest rate on Subsidized Stafford Loans first disbursed on or after 7/1/2006 to graduate students and all Unsubsidized Stafford Loans is fixed at 6.8%.
Sallie Mae Federal Parent PLUS Loan
Federal Parent PLUS Loans are fixed-rate loans available to parents of undergraduate dependent students. With a Parent PLUS loan, families can fund the entire cost of a child’s education (less other financial aid).- Loans can be used to pay the higher education-related expenses of an undergraduate, dependent child.
- Borrowers can postpone repayment for up to 60 months including while the dependent child is in school.
- The interest rate on Parent PLUS loans first disbursed on or after July 1, 2006 is fixed at 8.5%.
Sallie Mae Federal Graduate PLUS Loan
Graduate PLUS Loans are fixed-rate loans for students attending graduate and professional school. With a Graduate PLUS loan, students can borrow up to the full cost of education (less other financial aid).- Loans can be used to cover the cost of tuition, fees, room and board, and other education-related expenses.
- No payments are required while the student is enrolled at least half-time.
- The interest rate on Graduate PLUS Loans first disbursed on or after July 1, 2006 is fixed at 8.5%.
[1]Borrowers are responsible for all of the interest that accrues on Unsubsidized Stafford loans while in school, but do not have to pay the interest during this time. Unpaid interest that is deferred until after graduation is capitalized (added to the loan principal). Interest does not accrue on subsidized Stafford loans while the borrower is in school, during grace, and during authorized periods of deferment.
Upromise is not a lender or loan broker, except where its activities require it to be so licensed. Upromise does not broker or make loans and is not engaged in the business of making or brokering loans. Upromise does not procure, solicit, offer, arrange, place, find, obtain, endorse, negotiate, originate or process loans, or assist or advise anyone in obtaining, procuring or making a loan (or attempt or represent that it will to do any of the foregoing). Upromise does not participate in credit decisions in connection with loans. Upromise is not an agent for any lender (we refer to these as "Lenders"), or for any consumer or for any person seeking a loan. Upromise's services on behalf of any Lender in connection with any loan are limited to administrative and marketing services. Upromise does not guarantee that completing an application for credit will result in your receiving a loan or credit card from a Lender.
