Student Loans at Utah State University

Utah State University (USU)

As of 2017, USU offers undergraduate, graduate, and professional student loans. Their goal is to provide students with financial aid while keeping costs low at the same time. All their loan options are based onon federal guidelines and are designed to benefit both students and taxpayers.

The FederalThe Federal Direct Loan Program

A government-backed program that provides direct loansloans to eligible borrowers whoare attending are attending school. Borrowers have the option to choose between subsidized and unsubsidized loans. Eligibility requirements include a minimum FICO credit score and income eligibility limits. Students may borrow up to $31,000 per year in subsidized loans and up to $57,500 in unsubsidized loans, whichever amount is less. The maximum length of repayment for these loans varies based on the type of loan chosen. Subsidized loans need to be paid back over 10 years. Unsubsidized. Unsubsidized loans do not have to be paid back until after 6 months of graduation. After those six months, borrowers can start making payments.

The PerkinsThe Perkins Loan Program

Another direct loanprogram is program is provided by the U.S. Department of Education. Similar to the Direct Loan Program, Perkins Loans require applicants to meet certain criteria,criteria, including having high educational expenses and being enrolled full-time in higher education. Borrowers can receive interest rates starting at 1%, and repayment amounts vary based on the levelof the of the borrower’s degree. Unlike the Direct Loan Program, borrowers don’t have to pay anything back if they drop below half-time enrollment.

The StaffordThe Stafford Loan Program

The Stafford Loan Program is run by the U.S.U.S. Department of Education and is available to students who attend any postsecondary institution. There are two types of Stafford Loans—subsidizedLoans—subsidized and unsubsidizedunsubsidized. A subsidized Stafford Loan means there’s no upfront payment required; however, loan recipients will make payments throughout their entire period of study. Unsubsidized Stafford Loans come with monthly payments depending on the length of the loan. As with the Perkins Loan Program, there is no grace period before repayment begins.

Program for Parent PLUS LoansProgram for Parent PLUS Loans

This loan is offered to parents who co-sign for their child’s college education.The borrower’s parents The borrower’s parents must be U.S. citizens or permanent residents and show proof of relationship to the borrower. Both parents’ and the borrowers’ incomes are taken into account when determining eligibility. Qualifying applicants can receive up to $23,000 in funding per academic year.

Loan Programs for IndividualsLoan Programs for Individuals

Private lenders offer student loans directly to individual consumers. Because many private lenders operate outside of the federal government’s regulatory system, some of them aren’t regulated under the same laws as federal student loans. However, the Consumer Financial Protection Bureau does offer protectionprotection to borrowers if an issue arises. Not all private lenders offer the same kinds of loans as the federal government, although many lenders do give out unsecured personal loans and parent PLUS loans.

Student Loans at Utah State UniversityStudent Loans at Utah State University

Utah State University student student loans

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Student Loans at Utah State UniversityStudent Loans at Utah State University

Loan Amount $24,000 / 2 years @ 4.9% APR-totalAPR-total $11,100/month

Direct Subsidized Loan (No Money Down):Direct Subsidized Loan (No Money Down):No interest payments—firstpayments—first month’s payment only covers interest.interest.

Interest Rate:Rate: 4.9%

Duration: two yearsDuration: two years

Payment Frequency One time per month.month.

Payment Due: $10.00 per month on the first; $10.50 on the second; and $11.00 on the third.Payment Due: $10.00 per month on the first; $10.50 on the second; and $11.00 on the third.

Payments Automatic

Lender:Lender: Utah Student Loan Fund

Date of Application: September 14th, 2018Date of Application: September 14th, 2018

$11,100 in monthly payments$11,100 in monthly payments

$48,600 in total debt$48,600 in total debt

Student Loans at Utah State UniversityStudent Loans at Utah State University

This project was created by Andrew Satterfield, a Utah State University student majoring in Graphic Design andand Illustration. I wanted to create something simple yet informative about the costs associated with attending college. A lot of people aren’t aware of how expensive education really is and they take it for granted, but if you don’t have money for school, chances are you’re not going to have enough money to live comfortably after graduation. If you are interested in this topic, I would recommend checking out “Student Loan Hero” on YouTube.

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Royalty-FreeRoyalty-Free Music for Cinematic Productions:

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R2D2—aR2D2—a song created by Erik Skalski.Creative Commons—Attribution 3.0 License (see link above) is used. Creative Commons—Attribution 3.0 License (see link above) is used.

Student Loans at Utah State UniversityStudent Loans at Utah State University

A Utah State University student loan is a type of educational loan obtained from third-party lenders (e.g., banks) for students enrolled at USU’s Logan campus. These loans are based on financial need and may be subsidized or unsubsidized. Students generally borrow funds to pay for their tuition, room and and board, books, supplies, personal expenses, and activities associated with university requirements. Most student loans issued by private lenders require repayment over a period of time ranging from 10 years to 30 years.

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