Loan Summary Chart

(interest rates are for loans originated in the 2018- 2019 academic year - disbursed on or after July 1, 2018, and before July 1, 2019)

 

Loan

Interest

Eligibility

Term

How to Apply

Direct
Subsidized (undergraduate)

5.05% fixed interest rate

 • Must be in a degree-seeking program at least on a half-time basis

 • Limits based on your grade level at AUC

 • Repayment deferred, no interest while enrolled on at least a half-time basis

 • Interest accrues during six-month grace period before repayment begins

 • Origination fee of 1.069% (fee for loans originated on or after October 1, 2016, and before October 1, 2017.

Origination fee of 1.066% (fee for loans originated on or after October 1, 2017, and before October 1, 2018.

 

Origination fee of 1.062% (fees for loans originated on or after October 1, 2018, and before October 1, 2019

• Student must complete FAFSA

• Sign Master Promissory Note and complete entrance counseling to receive funds. Go to StudentLoans.gov.

• Student must complete Virtual Financial Aid Office Application

Direct Unsubsidized

 

 

 

 

5.05% fixed interest rate for undergraduate students

 

6.60% fixed interest rate for graduate students 

• Enrolled at least on a half-time basis in a degree-seeking program

• Limits based on your grade level at AUC

 • Interest accrues from time loan is disbursed. Interest payments may be made while in school

 • Repayment of principal deferred while enrolled on a half-time basis at least (at least 6 credit hours)

 

 • Origination fee of 1.069% (fee for loans originated on or after October 1, 2016, and before October 1, 2017.

Origination fee of 1.066% (fee for loans originated on or after October 1, 2017, and before October 1, 2018.

Origination fee of 1.062% (fees for loans originated on or after October 1, 2018, and before October 1, 2019

 

 • STUDENT must complete FAFSA

 • Sign Master Promissory Note and complete entrance counseling to receive funds. Go to StudentLoans.gov.

 • STUDENT must complete Virtual Financial Aid Office Application

 

 

 

Direct PLUS (Parent PLUS)

7.60% fixed interest rate

 • May borrow up to cost of attendance minus other aid

 • Student must be enrolled on a half-time basis at least in a degree-seeking program

 • Parent may borrow on behalf of student

 • Interest begins to accrue upon loan disbursement

 • Repayment of principal and interest begins after the loan is fully disbursed

 • 4.276% origination fee (fee for loans originated on or after October 1, 2016 and before October 1, 2017.

• 4.264% origination fee (fee for loans originated on or after October 1, 2017 and before October 1, 2018.

 

• 4.248% origination fee (fee for loans originated on or after October 1, 2018, and before October 1, 2019

 • Student must complete FAFSA

 • Parent sign Master Promissory Note to receive funds at StudentLoans.gov.

 • Parent must pass Department of Education credit check and complete credit counseling with StudentLoans.gov.

 • Student must complete Virtual Financial Aid Office Application

Private Sallie Mae (Sallie Mae Smart Option Loan and Sallie Mae Parent Loan)

Variable/fixed interest rates

 • Satisfy the credit requirements

 • U.S citizen or permanent resident

 • Student must have no prior student loan defaults and maintain satisfactory academic progress

• Varies with loan type

• 0% origination fee

 • Must be accepted full- time, half-time or less than half-time in a degree-seeking program at AUC

 • Student must complete the Sallie Mae Smart Option Loan Application

 • PARENT must complete the Sallie Mae Parent Loan Application