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FEDERAL DIRECT UNSUBSIDIZED LOAN

FEDERAL DIRECT GRAD PLUS

PRIVATE ALTERNATIVE LOAN

INTEREST RATE

Fixed at 8.05 percent for loans disbursed between July 1, 2024 and June 30, 2025

Fixed at 9.08 percent for loans disbursed between July 1, 2024 and June 30, 2025

Accrues quarterly or monthly at variable rate determined by lender

INTEREST RATE CAP

9.50 percent

10.50 percent

Varies by lender and loan

IN-SCHOOL INTEREST

Yes

Yes

Yes

LOAN FEES (FOR LOANS FIRST DISBURSED)

1.057 percent between 10/1/20 and 9/30/24

4.228 percent between 10/1/20 and 9/30/24

Varies by lender and loan

ENROLLMENT REQUIREMENTS

Minimum half-time

Minimum half-time

Varies by lender and loan

CREDIT CHECK

No

Yes (No adverse credit)

Yes (Must meet FICO requirements set by lender)

COSIGNER REQUIRED

No

No

Varies by lender and loan

ANNUAL LOAN LIMIT

$20,500 – Grad/Prof $47,167 – Dental (years 1,2,3) $40,500 – Dental, year 4
$36,167 - 12 mo. CLPS-PHD
$33,000 - 9 mo. CLPS-PHD

Cost minus aid

Cost minus aid

AGGREGATE LOAN LIMIT

$138,500 – Grad/Prof

$224,000 – Dental and CLPS-PHD

No

Varies by lender

HOW TO APPLY

• Complete FAFSA
• Accept loan(s) – CheckMarq, Financial Aid tile, Accept/Decline Aid

• Complete FAFSA
• Complete Grad PLUS Loan Credit Authorization Form from: Marquette Central () Financial aid Forms

• Lender Charts and Online Applications at: Marquette Central (www.mu.edu/central)

MASTER PROMISSORY NOTE

Yes

Yes

Varies by lender

GRACE PERIOD

6 months

Yes

Varies by lender

DEFERMENTS OR FORBEARANCE

Yes

Yes

Varies by lender

ELIGIBLE FOR FEDERAL CONSOLIDATION

Yes

Yes

No