Teaching Partnership - Teaching Partnerships Loans

0

Federal Student Loans

  • Deferred while the student is in school.
  • The interest rate for undergraduate student loans disbursed after July 1, 2016 is 3.76%
  • Subsidized (interest paid by the government while the student is in school) or Unsubsidized (interest accruing while the student is in school) eligibility is determined by the FAFSA calculation.
  • Origination fee is 1.069% of the principal loan amount. 
  • A six-month grace period begins when the student graduates or drops below half-time status. Half-time is 6 credit hours.
  • Repayment of principal & interest begins at the end of the six-month grace period.
  • Complete your Entrance Counseling and Master Promissory Note at:  www.studentloans.gov

Federal Parent PLUS Loan

  • Fixed interest rate of 6.31% for all Parent PLUS Loans disbursed after July 1, 2016. 
  • Origination fee is 4.276% of the principal loan amount.
  • Repayment begins when the loan is fully disbursed for the year, but the borrower can apply to have the repayment deferred while in school and throughout the six month grace period
  • Complete your annual Parent Plus Loan Request at:  www.studentloans.gov
  • Complete your Master Promissory Note at:  www.studentloans.gov

Alternative Loans

  • Credit-based student loan taken out through a Bank or Lending Institution (non federal).
  • A credit-worthy cosigner is required for a dependent student. For independent students, a cosigner may be required depending on the student's credit rating.
  • Interest rates are variable and depend on the borrower's or cosigner's credit.
  • Repayment of the principal balance is deferred until the student graduates or drops below half-time. Some lenders will offer a six-month grace period.
  • List of available Alternative Loans.

 

 

315 E. College Avenue
Greenville, Illinois 62246-1145
800.345.4440 / 618.664.7100
Contact Us © 2000-16 Greenville College. All rights reserved.
Greenville College is authorized to operate as a postsecondary educational institution by the Illinois Board of Higher Education
Accreditation | IBHE Complaint Form