Aid Programs
Student Loans
Loan programs listed on this page are programs administered and/or awarded through the UF Office for Student Financial Affairs (SFA).
Borrowing money for college is a serious financial obligation. In addition to principal borrowed, interest is generally charged for use of funds. It's important to remember when you borrow money that it must eventually be repaid. When signing a loan promissory note, you make a legal and ethical agreement. Legally, you will be required to sign the note promising to repay the loan. Ethically, you are responsible to future borrowers, since collections from old loans are a major funding source for new loans. Consider this commitment carefully when taking out a loan, and consider how much you reasonably can repay. Read more about loans and debt management in Debt Management & Student Loans.
UF participates in the Federal Direct Loan Program which consists of the Federal Direct Stafford (subsidized) Loan, the Federal Direct Unsubsidized Stafford Loan, the Federal Direct PLUS Loan, and the Federal Direct Consolidation Loan Program. The U.S. Department of Education is the lender and, except for consolidation loans, delivers loan proceeds through the school. UF disburses the loans after loans have been processed and approved and classes have begun. When it is time for repayment, you (or your parents) will send all loan payments to the federal loan servicer.
Summary of Loans Chart
| Loan Name | Interest Rate for loans disbursed from July 1, 2008-July 1, 2009 |
Origination Fee | Repayment | Co Signer or Endorser Needed? |
|---|---|---|---|---|
| Perkins Loan | 5% Fixed | No origination fee | Begins 9 months after graduation. $40 minimum payment a month. |
No. | Subsidized Loan | 6.0% Fixed for Undergraduates 6.8% Fixed for Graduates |
2.0% with 1.5% upfront rebate if you make your first 12 payments on time | Begins 6 months after you graduate or enroll for less than half time | No. |
| Unsubsidized Loan | 6.8% Fixed | 2.0% with 1.5% upfront rebate if you make your first 12 payments on time | Begins 6 months after you graduate or enroll for less than half time | No. |
| Parent PLUS Loan | 7.9% Fixed | 4.0% with 1.5% upfront rebate if you make your first 12 payments on time | Begins with 60 days of disbursement of loan funds | Dependent upon credit decision |
| Graduate PLUS Loan | 7.9% Fixed | 4.0% with 1.5% upfront rebate if you make your first 12 payments on time | Begins with 60 days of disburement of loan funds | Dependent upon credit decision |
| UF Long Term Loans | 4% to 9% | No. | Begins 6 months after you graduate or enroll for less than half time | Yes |