UC Financial Aid - Loans

Federal Carl Perkins National Direct Student Loan
This loan is designed especially for for students who demonstrate financial need and are enrolled in eligible programs. A student may borrow up to $15,000 as an undergraduate with repayment to begin six months after graduation or withdrawal from school. During the repayment period, five percent interest will be charged on the unpaid balance of the loan principal.

Federal Stafford Loans
Featuring variable interest rates and a maximum interest rate of 8.25 percent, Stafford Loan funds are obtained through a lending institution such as a bank or a credit union. Freshmen may borrow up to $3,500 per year. Sophomores may borrow up to $4,500 per year. Juniors and Seniors may borrow up to $5,500 per year. Graduate students may borrow up to $18,500 per year. The federal government will pay the interest on the loan until the student begins repaying, six months after graduation or withdrawal from school. Recipients must meet the need requirements to borrow under this program and must be enrolled for at least six hours per semester in a degree program. Students who do not demonstrate financial need or whose need is less than the maximum loan may borrow through the unsubsidized FSL program. On these loans, interest may be paid while in school or capitalized and paid during the normal repayment process.

Nursing Student Loans
This loan provides up to $2,500 per academic year for Freshmen and Sophomores and up to $4,000 per academic year for Juniors and Seniors. No interest is charged while the student is in school. Five percent simple interest is charged after completion of the grace period. Financial need required to be eligible.

Federal PLUS Loans
The Parent Loan for Undergraduate Students is a federal loan program. The interest rate is up to 9 percent and repayment begins within 60 days. Parents may borrow the total cost of education per year less other financial aid.