Loans with a first disbursement on or after 7/1/2022 and before 7/1/2023
*Interest rates for loans with a first disbursement date on or after 7/1/2022 have not yet been published.
Federal Unsubsidized Direct Loan
For the most up to date information please visit Studentaid.gov.
- Interest Rate: 6.54% fixed during in-school, grace, and deferment periods
- Origination/ Guarantee Fees: 1.057% (e.g. if $1000 is borrowed, $990 will be applied to the student’s Augsburg account)
- Annual Loan Limits: $20,500
- Cumulative Loan Limits: $138,500 (of which, no more than $65,500 can be subsidized)
- Grace Period: 6 Months
- Repayment Terms: Standard repayment is 10 years following grace period, though other repayment options may be available
- Deferment Options: Continued education, disability, and unemployment. Contact your lender for other options.
Federal Graduate PLUS Loan
For the most up to date information please visit Studentaid.gov.
- Interest Rate: 7.54% fixed during in-school, grace, and deferment periods.
- Origination/ Guarantee Fees: 4.228% (e.g. if $1000 is borrowed, $958 will be applied to the student’s Augsburg account)
- Annual Loan Limits: Cost of education less other aid received.
- Cumulative Loan Limits: No Cap
- Grace Period: No grace period, but parents can request the loan to enter forbearance through the lender.
- Repayment Terms: Repayment begins within 60 days after final disbursement of loan funds. Up to 10 Years. See Grace Period information.
- Deferment Options: Contact lender for deferment or forbearance options.
Private/Alternative Loans
- Interest Rate: Variable, based on credit + PRIME or LIBOR.
- Origination/ Guarantee Fees: Varies by lender.
- Annual Loan Limits: Cost of education less other aid received.
- Cumulative Loan Limits: Varies by lender.
- Grace Period: Varies by lender.
- Repayment Terms: Varies by lender.
- Deferment Options: Varies by lender.