Federal Loan Programs

• The Federal Perkins Loan is a low-interest loan administered by Dartmouth College. This is a limited fund awarded to students with exceptional financial need. The interest on this loan is fixed at 5% and does not accrue during enrollment. Repayment of principal and interest begins nine months after enrollment ceases. The maximum annual loan available through this program is $6,000. The aggregate Federal Perkins Loan program limit is $40,000 for graduate students.
• The Federal Stafford Loan is a federally regulated loan program. Graduate students can borrow educational costs less other financial aid up to $20,500 through this program annually. The financial aid office uses th information on the FASFA form to determine your eligibility for this loan.
  
  Up to $8,500 of the amount borrowed each year through the Federal Stafford loan program may be subsidized. No interest accrues on this portion of the loan during enrollment or the grace period. Interest on the unsubsidized portion of the loan is either paid or accrued and added to the principal balance of the loan prior to repayment.
  
  Repayment of principal and interest begins six months after enrollment ceases. The interest rate on these loans is 6.8%. The aggregate borrowing limit through this program is $138,500 ($65,500 subsidized and $73,000 unsubsidized).
• The Federal Graduate PLUS Loan allows graduate students to borrow up to the full cost of education minus any other financial aid that is received. A credit check determining the applicant’s credit history is required. Because GPLUS is a federal program, the interest and repayment regulations are the same from lender to lender. The interest rate is fixed at 8.5%.There may also be a 3%-4% origination/guarantee fee, which is deducted from each disbursement. Disbursements are spread equally over the enrollment period. For example, in a three-term enrollment period, there will be three equal disbursements coinciding with the start of each term. Repayment begins within 60 days after the final disbursement of the loan and extends from five to ten years. Most lenders will allow payments to be deferred while you are enrolled but interest will accrue on the balance.