• Do not have to submit parental income information on FAFSA
• Interest is subsidized (paid) by the federal government during in-school, grace, and approved deferment periods
• Maximum $8000/year; aggregate limit of $40,000, including the amount borrowed as an undergraduate student (actual loans will be dependent upon available funds)
• Need-based eligibility determined by the results of FAFSA; priority given to students with exceptional financial need
• Student borrows through the school
• Grace period of 9 months after enrollment ceases
• Deferment and Forbearance options available
• Standard 10-year repayment schedule; minimum $40/month payment

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