Loans

Pfeiffer University participates in the following Federal Financial Aid Loan Programs

Direct Subsidized Stafford Loan: the basic building block of most financial aid packages.  The interest rate and terms for the Direct Subsidized Loan is 4.5% (for Undergraduates).  Direct Subsidized Loans for Graduate Students and Direct Unsubsidized loans for all students is 6.8%.  Students must beat least part time (6 credit hours for Undergrad Students & 3 for Grad Students) to be eligible, and they must show financial need.  the borrower is not charged interest while still in school, nor during the grace and deferment periods.  Students are eligible to borrow as listed below.

Subsidized Eligible to Borrow
First Year (Undergrad) $3500 $9500
Second Year (Undergrad) $4500 $10500
Third Year & Beyond (Undergrad) $5500 $12500

Direct Unsubsidized Stafford Loan: Students must be at least part time (6 credits for Undergrad students & 3 credits for Grad students) - the interest rate is 6.8% for all Graduate Student (subsidized and unsubsidized) and Undergraduate Unsubsidized Stafford Loans.  The borrower is responsible for all interest on the loan including while in college and during all grace and deferment periods.  The lender is the U.S. Government and the loan will be paid back to the U.S. Government.  Students are elgiible to borrow as listed above.

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