University of Connecticut University of UC Title Fallback Connecticut

Loans

The University of Connecticut understands that investing in a quality education is an important decision. UConn participates in the loan programs listed below.

NOTE: Congress has passed legislation that allowed the US Department of Education to purchase many privately held Federal Stafford and Federal PLUS Loans. Click here to see how this impacts your loans.

IMPORTANT: The US Department of Education has announced the 2014-2015 Direct Loan interest rates. For students/parents whose loan first disburses between 7-1-14 and 6-30-15, the following interest rates apply:

  • Federal Direct Stafford Loans (Subsidized/Unsubsidized) for Undergraduate borrowers: 4.66% fixed
  • Federal Direct Stafford Loans (Unsubsidized) for Graduate borrowers: 6.21% fixed
  • Federal Direct PLUS Loans (parent and Graduate student borrowers): 7.21% fixed

Federal Direct Stafford (Subsidized/Unsubsidized) – Student Loans

    • Federal need and non-need based program
    • Subsidized and Unsubsidized Federal Direct Stafford Loans for Undergraduate students only that are first disbursed between 7-1-14 and 6-30-15 will carry a fixed interest rate of 4.66%. Unsubsidized Federal Direct Stafford Loans for Graduate students first disbursed between 7-1-14 and 6-30-15 have a 6.21% interest rate.
    • Subsidized Federal Direct Stafford Loans available to eligible Undergraduate students registered at least half-time
    • Unsubsidized Federal Direct Stafford Loans available to all students registered at least half-time
    • Repayment begins six months after a student’s enrollment drops below half-time status or the student graduates
    • FAFSA is required

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Perkins – Student Loans

  • Federal need-based program
  • Fixed 5% interest rate
  • UConn is the Lender
  • Available to eligible students
  • Repayment begins nine months after a student’s enrollment drops below half-time status or the student graduates
  • FAFSA is required
  • Borrowers use ECSI to complete the Exit Counseling requirement

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Federal Direct PLUS – Parent or Graduate Student Loans

  • Federal non-need based program; 7.21% fixed interest rate for loans first disbursed between 7-1-14and 6-30-15.
  • Credit check conducted to establish eligibility
  • Parent borrowers: repayment begins 60 days after final disbursement (deferment options available).FAFSA is required.
  • Graduate Student borrowers: may defer payment while in school, FAFSA is required
  • UConn requires parent borrowers to complete an online application via studentloans.gov.  The process for 15-16 opens on 3-1-15.
  • UConn requires graduate student borrowers to complete an online application via studentloans.gov.
  • Complete the PLUS MPN requirement. Graduate PLUS borrowers must also complete entrance counseling and exit counseling.

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Alternative – Student Loans

  • Non-federal private loan options
  • Variable and fixed interest rates available; most have no cap
  • You should generally exhaust all federal loan options before considering an alternative loan
  • Must apply directly through your chosen lender
  • For more information on how our suggested lenders were chosen, please see our Lender Selection page.
  • Repayment options vary by lender
  • FAFSA is not required

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Still have questions? Read our General Loan FAQs