Loan Summary Chart

Loan

Interest

Eligibility

Term

How to Apply

Direct
Subsidized

4.53% fixed interest rate

  • Must be in a degree-seeking program at least half-time
  • Limits based on your grade level at AUC
  • Repayment deferred, no interest while enrolled at least half-time
  • Interest accrues during the 6-month grace period before repayment begins
  • Origination fee 1.062% loans originated prior to October 1, 2019
  • Origination fee 1.059% loans originated on or after October 1, 2019

 

Direct Unsubsidized

 

 

 

 

4.53% fixed interest rate for undergraduate students

 

6.08% fixed interest rate for Graduate students 

  • Enrolled at least half-time 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 at least half-time (at least six credit hours)
  • Origination fee 1.062% loans originated prior to October 1, 2019
  • Origination fee 1.059% loans originated on or after October 1, 2019

 

 

Direct PLUS (Graduate or Parent PLUS)

7.08% fixed interest rate

 

  • May borrow up to cost of attendance less other aid
  • Student must be enrolled at least half-time 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
  • Origination fee 4.248% loans originated prior to October 1, 2019
  • Origination fee 4.236% loans originated on or after October 1, 2019

 

 

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

Variable/fixed interest rates

 

  • Satisfy the credit requirements
  • US citizen or permanent resident
  • STUDENT- 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 Complete Sallie Mae Smart loan application
  •  PARENT Complete Sallie Mae Parent loan application