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Home Page > Admissions > Financial Aid > Federal Aid > Federal Loans
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Federal Loans
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| SDSU Participates in the Following Federal Loan Programs.
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| Subsidized Federal Stafford Loans are for undergraduate and graduate students and are awarded based on financial need as determined by the FAFSA's analysis of Expected Family Contribution (EFC) minus the Cost of Education. Students will need to begin repaying the loan 6 months after graduation, at a fixed interest rate of 6.0%.
Unsubsidized Federal Stafford Loans for undergraduate students classified as dependent will begin accruing interest at a fixed rate of 6.8%upon the disbursement of the loan until paid in full. Students will not have to begin repayment until 6 months after they cease to be a student.
Unsubsidized Federal Stafford Loans for undergraduate and graduate students classified as independent will begin accruing interest at a fixed rate of 6.8% upon the disbursement of the loan until paid in full. The students may choose to pay back the interest as it accurues or add the interest to the principal balance. Students will not have to begin repayment until 6 months after they cease to be a student. The amount of the loan will depend on the student's class level. For example, a sophomore, junior, and senior can take out a larger loan than a freshmen.
Federal Parent Loan for Undergraduate Students (PLUS): The amount of the loan will not exceed the cost of the education minus any financial aid the student receives. The interest rate is 8.5% and will start after the loan's disbursement. Payments on this loan will start 60 days after the loan is fully disbursed.
PLUS Loan for Graduate and Professional Students: Available for eligible students after reaching their $18,500 Federal Stafford Loan annual limit. The Graduate PLUS loan has a fixed 8.5% interest rate. This loan requires credit approval from the lender.
Federal Perkins Loans are awarded based on financial need and available funding. Students have 9 months after they cease to be at least a half-time student to begin repaying the loan, at which time the loan will begin accruing interest at 5%.
Nursing Loans are for students who have been accepted into the nursing program (not pre-nursing). Students need to begin repaying the loan 9 months after they cease to be a student, at which time the loan will begin accruing interest at 5%.
Pharmacy loans are for professional students of pharmacy and are awarded on financial need. In determining financial need, pharmacy students, regardless of age and class level, must include parental information and a parent's signature on their FAFSA to be considered for the loan. Students need to begin repaying the loan 12 months after they cease to be a student, at which time the loan will begin accruing interest at 5%.
| Student Loan Debt/Salary Wizard
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| The Wizard is an interactive calculator which helps students and parents determine:
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| | how much salary is needed to make the payments on current and future student loan debt and | | how much can be borrowed based on future expected earnings. |
| To access the wizard please click here [External Hyperlink].
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