Stafford Loan: Federal loan with a fixed interest rate. The principal and interest may be deferred until six months after the student is no longer enrolled. The minimum monthly payment is $50, and the standard repayment is 10 years.
Subsidized Federal Stafford Loan: Need-based, student is not responsible for interest charges while enrolled at least half-time. The fixed interest rate for this loan is 6.8%. May borrow up to $8,500 per year.
Unsubsidized Federal Stafford Loan: Non-need-based loan, interest accrues while the student is enrolled. May borrow up to an additional $12,000 per year. Student has the option to pay interest while in school or defer interest until loan goes into repayment. The fixed interest rate is 6.8%.
Federal Work-Study: Federally funded work program. Students work part-time, and wages are paid jointly by federal funds and the University.
Federal GRAD PLUS Loan: Credit-based loan with a fixed 8.5% interest rate. Contact lender for repayment information. May borrow up to the cost of education less other financial aid.
Nurse Faculty Loan Program: Federal loan for full-time graduate nursing students intending to become faculty members. Up to 85% of loan may be forgiven while serving as full-time nursing faculty after graduation. Contact the School of Nursing for further information.
Federal TEACH Grant(Teacher Education Assistance for College and Higher Education): This is a federal grant program that provides grants of up to $4000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families. First year Graduate students must have a cumulative transcript GPA of 3.25 and then are required to maintain a GPA of 3.25. Eligible students will be contacted by the Office of Student Financial Services via email
Saint Xavier University 2009-2010 Catalog
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