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Loan Programs
Stafford Loan
Rose-Hulman Institute of Technology participates in the
Federal William D. Ford Direct Loan Programs, as
well as the Federal Perkins Loan Program, and
Rose-Hulman Gate Loan Program. Rose-Hulman determines
loan eligibility and forwards loan applications to the
borrower. Loans will not be credited to the student
billing account until a signed promissory note is
received.
Federal Direct Subsidized Direct Loan
- Need-based loan, must file FAFSA
- Annual loan limits are:
| Freshman |
$3,500.00 |
| Sophomore |
$4,500.00 |
| Junior or Senior |
$5,500.00 |
| Graduate |
$8,500.00 |
| *A 4% origination fee is
deducted from loan proceeds. |
- Interest is deferred while maintaining at least
half-time enrollment.
- The interest rate is fixed at 6.8%. Interest is
deferred until borrower ceases enrollment.
- Repayment begins six months after student ceases
enrollment.
Federal Direct Unsubsidized Direct Loan
- This loan is the same as the subsidized except
the borrower accrues interest while in school, and
the loan is not determined by need. Borrower has the
choice of paying the interest that accrues over the
enrollment period or capitalizing it at the end of
the grace period.
- Annual loan limits for dependent undergraduates
are the same as the subsidized loans. Students may
borrow up to those limits in either the subsidized,
unsubsidized, or a combination of the two.
- Independent undergraduates may borrow
unsubsidized loans IN ADDITION to the subsidized up
to $4,000 annually for freshmen and sophomores, and
$5,000 annually for juniors and seniors. Graduate
students may borrow up to $12,000 annually in
addition to the subsidized amount.
- Dependent undergraduate students may be eligible
to borrower unsubsidized amounts in addition to
subsidized if the Parent Loan (PLUS) has been
denied.
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