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LOANS

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  • Are financial aid awards that you agree to repay with interest.

Federal Stafford Loans (subsidized)

The Federal Stafford Subsidized Loan is awarded on the basis of financial need. If you qualify for this subsidized loan, you will not be charged interest before repayment begins (or during authorized periods of deferment). The federal government “subsidizes” (pays the interest on) these loans while students are in college at least half-time and during certain periods, such as grace and deferment. Complete the FAFSA to apply.

For more information visit: http://www.hesc.com/bulletin.nsf/

Or call toll-free: 1-888-NYS-HESC (1-888-697-437)

Federal Stafford Loans (unsubsidized)

The Federal Stafford Unsubsidized Loan is not awarded on the basis of need. If you qualify for an unsubsidized loan, you will have to repay interest from the time you recieve the loan until you pay it back in full. You may choose to pay the interest while you are in college, or allow it to accumulate. If the interest accumulates, it will be added to the principal amount of the loan and will increase the amount you have to repay. If you pay the interest as it accumulates, you'll repay less in the long run. Complete the FAFSA to apply.

For more information visit: http://www.hesc.com/bulletin.nsf/

Or call toll-free: 1-888-NYS-HESC (1-888-697-437)

Federal Perkins Loans

The Federal Perkins Student Loan is a low interest loan from the federal government for both undergraduate and graduate students enrolled in classes at least half-time. The college is the lender. The loan is made with government funds, and the college contributes a share. If you receive the Federal Perkins Student loan, you will repay the loan to your college. Not all students qualify to receive a Perkins Loan. Complete the FAFSA to apply.

For more information visit: http://www.studentaid.ed.gov

Or call: 1-888-NYS-HESC (1-888-697-4372)

Federal PLUS Loans

Parents can borrow a PLUS loan to help pay educational expenses for a daughter or son who is an undergraduate student enrolled at least half-time at an eligible college. PLUS Loans are unsubsidized – not awarded on the basis of need.

For more information visit: http://www.studentaid.ed.gov

Or call: 1-800-848-0979