Student loans are more manageable than ever.

Federal Perkins and Federal Stafford loans offer a low-interest way to help you get your degree now, and pay it off later. 

Perkins Loans

Maximum Annual Award: $1,500

Available to students who demonstrate exceptional financial need, Perkins loans are available at a 5% interest rate and administered through Touro College. Borrowers are allowed up to ten years to repay their loans to the school.

Stafford Loans

1st Year Maximum Annual Award: $3,500. Unsubsidized: $2,000

2nd Year Maximum Annual Award: $4,500. Unsubsidized: $2,000

3rd Year Maximum Annual Award: $5,500. Unsubsidized: $2,000

The most widely used, low-cost education loans sponsored by the federal government, Stafford loans are available to students enrolled on at least a half time basis. These subsidized loans are awarded according to financial need, and are interest-free while borrowers are in school. 

Unsubsidized Stafford Loans

Unsubsidized loans are not need-based, so they are widely available to students. Unlike their subsidized counterparts, they are subject to interest rates from the time they are dispersed to the time they are paid in full.

Federal PLUS Loans (for parents)

Federal PLUS Loans are available to parents with good credit histories who want to help pay for their children’s education. Parents may borrow up to the total cost of education, minus any other financial aid the student receives. The interest rates may vary, but are capped at 9%.

PLUS Loans are by far a preferable option to liquidating investments or paying out of pocket.

Contact Cheryl Bernath in the Financial Aid Office at (212) 287-3521 for more information.