Grad PLUS Loan Program: The Grad PLUS Loan is aFederal Loan available to graduate/professional students to meet theirfinancial need and/or to replace their student contribution to meettheir cost of attendance. Interest begins accruing once funds aredisbursed. Repayment begins within 60 days following the finaldisbursement of the loan period; however, in school deferment isavailable. The Grad PLUS Loan currently has a fixed interest rate of8.5% and a 3% origination fee.
NU Loan Program:The following programs are insured loans funded by the University frominstitutional resources. The Northwestern University Student LoanOffice administers these loan programs.
Kellogg Students whoare U.S. Citizens or Permanent Residents with a satisfactory credithistory have the option of applying for a NU Loan without a cosigner.There are two versions of the NU Loan for U.S. Citizens and PermanentResidents – Need-Based and Optional. The NU Need-Based can be borrowedto meet a portion of your financial need as determined by the KelloggFinancial Aid Office. The NU Optional Loan can be borrowed to replaceyour student contribution, but not to exceed your cost of attendance.One must borrow $20,500.00 in Federal Stafford Loans before borrowingthe NU Loan(s). Interest accrues upon disbursement and principal andinterest payments are not due until three months after separation orgraduation or if the student falls below half-time.
The NUloan interest rate is a variable interest rate set annually by theUniversity, September 1st through August 31st. The current interestrate, September 1, 2008-August 31, 2009 for the need-based NU Loan is7.0% and 7.5% for the optional NU Loan.
The NU InternationalLoan Program is a Northwestern University loan program designed to helpour International Students meet their financial aid need as determinedby the Kellogg Financial Aid Office.
Interest is variableannually and set by the University, September 1st through August 31st.This program offers two distinct options:
Option A:This loan requires a credit-worthy U.S. citizen or permanent residentcosigner (spouse cannot act as cosigner). This option charges noorigination fee and the current interest rate for the 2008-2009academic year is 7.50%. Option B: Nocitizenship/residency requirement is required for the student orcosigner. International students are required to have a family memberincluded as a cosigner (parent, guardian, or relative; spouse cannotact as co-signer). This option charges a 4.00% origination fee. Thecurrent interest rate for the 2008-2009 academic year is 8.00%.
Aftercompleting the Kellogg Financial Aid application materials, studentswith demonstrated need, as determined by the Kellogg School ofManagement Financial Aid Office, will be offered an NU Loan and mayapply for any amount up to their demonstrated need.
International students who wish to use the loan as a resource for securing a visa must do the following:
Submit the $1,500.00 tuition deposit to the Kellogg School Office of Admissions
Complete the Request for I-20 or DS-2019 application form andsubmit it to the Kellogg School Office of Admissions, leaving blank theamount of funding provided by Northwestern University, which will bedetermined by the financial aid office
Complete the Kellogg Application for Financial Aid
Include income statement for student and spouse/prospective spouse
Although the NU Loan can be borrowed to meet the students financialneed and or cost of attendance, there will be limited funding for the2009-2010 academic year. Therefore, the NU loan amount applied for andborrowed by the student must first be approved by the Kellogg financialaid office.
The Financial Aid Office works with private lenders who provide both need-based and non-need-based loans to cover educational expenses.
Loans for International Students
The Stanford University Graduate School of Business has partnered with the Star One Credit Union to provide private educational loans to international Business School students. There may be other private educational loans for international students. However, many private educational loans do not offer the combination of relatively low interest rates with the possibility of not requiring a US co-signer for the loan.
Please Note: In accordance with mandatory federal regulatory guidelines from the United States Treasury Department's Office of Foreign Assets Control (OFAC), students from sanctioned countries WILL NOT be eligible to borrow a private student loan through Star One Credit Union. Sanctioned countries include Western Balkans (Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Kosovo, Albania, FYR of Macedonia), Myanmar, Cote d’Ivoire (Ivory Coast), Cuba, DR Congo, Iran, Iraq, Libya, North Korea, Sudan, Syria, and Zimbabwe.
Loans for US Citizens and Permanent Residents
The School partners with several lenders to provide private educational loans to GSB students. US citizens and permanent residents must first borrow government funds for which you are eligible before additional funds are available for lending.
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发表于 2010-1-26 03:04:38
