Parents of undergraduates borrow

Borrower and student must be a U.S. citizen or permanent resident

Borrower must pass a standard credit check performed by the U.S. Department of Education

Student enrolled at least half-time

Borrower and student not in default on a prior education loan

Price of education minus financial aid as certified by MIT

6.31% interest rate

No interest subsidy

Loan fee of 4.272%

Loan fee deducted from amount borrowed

Begins 60 days after loan is fully disbursed or (if agreed to by the parent borrower) the day after the student's 6-month grace period ends

Interest accrues during deferment

Generally 10 to 30 years to repay, depending on plan selected

Three repayment plans including standard, extended and graduated

No prepayment penalty

Undergraduate student

U.S. citizen or permanent resident demonstrating financial need according to federal guidelines

Enrolled at least half-time in a degree or certificate program

Not in default on a prior education loan

Making satisfactory academic progress

Freshmen: $3,500

Sophomores: $4,500

Juniors and Seniors: $5,500

Minimum annual loan of $200

Aggregate limit includes all subsidized Direct or FFEL Stafford loans not yet repaid

 $23,000

3.76% interest rate

No interest until graduation, withdrawal or enrollment of less than half-time.

Loan fee of 1.068%

Loan fee deducted from amount borrowed

Begins 6 months after graduation, withdrawal or enrollment less than half-time

Generally 10 to 30 years to repay, depending on plan selected

Four repayment plans including standard, extended, graduated and income-contingent

May be deferred for graduate or professional school

No prepayment penalty

Undergraduate student

U.S. citizen or permanent resident

Enrolled at least half-time in a degree or certificate program

Not in default on a prior education loan

Making satisfactory academic progressess

Annual loan limit is a combined limit for subsidized and unsubsidized Direct or FFEL Stafford loans

Dependent undergraduates: freshman $3,500, sophomores $4,500, juniors and seniors $5,500. Dependent undergraduates may be eligible for additional unsubsidized funds of $2,000 or a total unsubsidized of $5,500 for freshman, $6,500 for sophomores, or $7,500 for juniors and seniors

Independent undergraduates and dependent undergraduates whose parent(s) are ineligible for a Federal Direct PLUS Loan: freshmen $9,500 (of which no more than $3,500 may be subsidized); sophomores $10,500 (of which no more than $4,500 may be subsidized); juniors and seniors $12,500 (of which no more than $5,500 may be subsidized)

Aggregate limit includes all subsidized or unsubsidized Direct or FFEL Stafford loans not yet repaid

Dependent undergraduates: $31,000 (of which no more than $23,000 may be subsidized)

Independent undergraduate and dependent undergraduate whose parents are ineligible for a Federal Direct PLUS Loan: $57,500 (of which no more than $23,000 may be subsidized)

3.76% interest rate

No interest subsidy

Deferred interest may be prepaid at any time or capitalized once in repayment

Loan fee of 1.068%

Loan fee deducted from amount borrowed

Begins 6 months after graduation, withdrawal or enrollment less than half-time

Generally 10 to 30 years to repay, depending on plan selected

Four repayment plans including standard, extended, graduated and income-contingent

May be deferred for graduate or professional school

No prepayment penalty

Undergraduate student

U.S. citizen or permanent resident demonstrating exceptional financial need according to federal guidelines

Enrolled in a degree or certificate program (may be enrolled less than half-time but will go into repayment after the 9-month grace period)

Not in default on a prior education loan

Making satisfactory academic progress

No interest until repayment begins

5% interest rate

No loan fees

Begins 9 months after graduation, withdrawal or enrollment less than half-time

Up to 10 years to repay

Minimum monthly payment is $40

May be deferred for graduate or professional school

No prepayment penalty

Undergraduate student

International students only

Requires a creditworthy co-signer

Enrolled in a degree or certificate program (may be enrolled less than half-time but will go into repayment after the 9-month grace period)

Not in default on a prior education loan

Making satisfactory academic progress

No interest until repayment begins

7% fixed

No fees

Begins 9 months after graduation, withdrawal or enrollment less than half-time

Up to 10 years to repay

Minimum monthly payment is $50

May be deferred for graduate or professional school

No prepayment penalty