Loans
From UConn Student Financial Aid Services
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| The University of Connecticut understands that investing in a quality education is an important decision. UConn participates in the following loan programs. Students or parents may borrow based on their loan eligibility, from the lender of their choice for the 2008/2009 academic year. NOTE: Beginning with 2009/2010, the University will participate exclusively in the William D. Ford Direct Loan Program for federal loans. Click here for more information about the 2009/2010 loan processes. |
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Stafford - Student Loans
- Federal need and non-need based program
- Fixed 6.8% interest rate; Subsidized Stafford Loans for undergraduate students only that are first disbursed on or after 7/1/09 will carry a fixed interest rate of 5.6%
- Subsidized Federal Stafford Loans available to eligible students registered at least half-time
- Unsubsidized Federal Stafford Loans available to all students registered at least half-time
- Repayment begins six months after a student's enrollment drops below half-time status or the student graduates
- FAFSA is required
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Perkins - Student Loans
- Federal need-based program
- Fixed 5% interest rate
- UConn is the Lender
- Available to eligible full-time students
- Repayment begins nine months after a student's enrollment drops below half-time status or the student graduates
- FAFSA is required
- Complete the Perkins Loan Master Promissory Note requirement
- Borrowers use UAS to complete the Exit Counseling requirement
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PLUS - Parent or Graduate Student Loans
- Federal non-need based program
- Credit check conducted to establish eligibility
- Parent borrowers: repayment begins 60 days after final disbursement (deferment options available), FAFSA is not required
- Graduate Student borrowers: may defer payment while in school, FAFSA is required
- UConn requires parent borrowers to complete the PLUS Loan Information Form
- UConn requires graduate student borrowers to complete the Grad PLUS Loan Information Form
- Complete the PLUS MPN requirement. Graduate PLUS borrowers must also complete entrance counseling and exit counseling.
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Alternative - Student Loans
- Non-federal private loan options
- Variable interest rates; most have no cap
- You should exhaust all federal loan options before considering an alternative loan
- Must apply directly through your chosen lender
- For more information on how our suggested lenders were chosen, please see our Lender Selection page.
- Repayment options vary by lender
- FAFSA is not required
- UConn requires students who do not file a FAFSA to complete the Alternative Loan Information form.
- Borrowers use ELMNet to check their loan status
| Learn more... |
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| Still have questions? Read our General Loan FAQs |
