Financial Aid

Loan Information

The tables below list federal and private loan options, fees and interest rates for the 2011-2012 and 2012-2013 academic years. More information about each of the loan types can be found in the links below.

TYPE OF AID	FEES	INTEREST RATE	PAYMENT WHILE IN SCHOOL	REQUIREMENTS	ADDITIONAL INFORMATION	AMOUNTS YEARLY
Federal Subsidized Stafford Loan	1% loan fee* (*2011-2012: .5% upfront rebate)	Fixed and Capped – 2011-2012: 3.4% 2012-2013: 6.8% Interest is paid (subsidized) by the Federal Government as long as student is enrolled at least half-time.	No payment required while enrolled at least half-time.	MUST file a FAFSA. Must complete Entrance Counseling. Must complete a Master Promissory Note. Requires at least half-time enrollment. Loan is in student's name.	6-month grace period after student graduates or ceases to be enrolled at least half-time. 10 year repayment under most plans.	Freshman: $3,500 Sophomore: $4,500 Junior: $5,500 Senior: $5,500
Federal Unsubsidized Stafford Loan	1% loan fee* (*2011-2012: .5% upfront rebate)	Fixed and Capped at 6.8%. Interest accrues while student is in school, student may pay or capitalize interest.	No payment required while enrolled at least half-time. Optional quarterly interest payments can be made, or student may capitalize interest.	MUST file a FAFSA. Must complete Entrance Counseling. Must complete a Master Promissory Note. Requires at least half-time enrollment. Loan is in student's name.	6-month grace period after student graduates or ceases to be enrolled at least half-time. 10 year repayment under most plans.	Freshman: $3,500 Sophomore: $4,500 Junior: $5,500 Senior: $5,500
Federal Additional Unsubsidized Stafford Loan	1% loan fee* (*2011-2012: .5% upfront rebate)	Fixed and Capped at 6.8%. Interest accrues while student is in school, student may pay or capitalize interest.	No payment required while enrolled at least half-time. Optional quarterly interest payments can be made, or student may capitalize interest.	MUST file a FAFSA. Must complete Entrance Counseling. Must complete a Master Promissory Note. Requires at least half-time enrollment. Loan is in student's name.	6-month grace period after student graduates or ceases to be enrolled at least half-time. 10 year repayment under most plans. Loan available only to students whose parents are denied the PLUS loan and independent students as determined by the FAFSA.	Freshman: $4,000 Sophomore: $4,000 Junior: $5,000 Senior: $5,000
Federal Supplemental Unsubsidized Stafford Loan	1% loan fee* (*2011-2012: .5% upfront rebate)	Fixed and Capped at 6.8%. Interest accrues while student is in school, student may pay or capitalize interest.	No payment required while enrolled at least half-time. Optional quarterly interest payments can be made, or student may capitalize interest.	MUST file a FAFSA. Must complete Entrance Counseling. Must complete a Master Promissory Note. Requires at least half-time enrollment. Loan is in student's name.	6-month grace period after student graduates or ceases to be enrolled at least half-time. 10 year repayment under most plans.	Freshman: $2,000 Sophomore: $2,000 Junior: $2,000 Senior: $2,000
Federal Perkins Loan	No fees	5% - Fixed Interest is paid by the Federal Government as long as student is enrolled at least half-time.	No payment is required if student is enrolled at least half-time.	MUST file a FAFSA. Must complete Perkins Entrance Counseling. Must complete a Perkins Master Promissory Note. Requires at least half-time enrollment. Loan is in student's name.	9-month grace period after student graduates or ceases to be enrolled at least half-time. 10 year repayment.	Based on available funding at Linfield College.
Federal PLUS Loan(for parents)	4% loan fee* (*2011-2012: 1.5% upfront rebate)	Fixed and Capped at 7.9%.	Payment begins 45-60 days after the final disbursement for the academic year.	MUST file a FAFSA. Must submit Parent PLUS Loan Request Form to Linfield Office of Financial Aid. Credit check required. Must complete a Master Promissory Note.	Deferment available while student is enrolled at least half-time. Interest accrues during authorized deferment periods.	Cost minus aid.

Private Loans

TYPE OF AID

FEE

INTEREST RATE

PAYMENT
WHILE IN
SCHOOL

REQUIREMENTS

ADDITIONAL
INFORMATION

AMOUNTS YEARLY

School certified private student

loans

Zero to 9%, based on credit worthiness of cosigner (most borrowers do not fall into the top credit tier).

Prime plus 1% (prime is currently 4%) to prime plus 7.5% based on credit worthiness of cosigner (most borrowers do not fall into the top credit tier).

No payment is required if student is enrolled at least half-time, but interest accrues.

No FAFSA required.

6-month grace period after student graduates or ceases to be enrolled at least half-time. 13 to 20 year repayment period depending on loan.

Cost minus aid

Questions? E-mail Financial Aid at: finaid@linfield.edu