Federal Stafford loans carry a low, fixed-interest rate set by the federal government. Federal Stafford loans at Empire State College are obtained solely through the William D. Ford direct-loan program.
Interest rates for federal direct loans disbursed between July 1, 2016 and June 30, 2017:
The Federal Perkins Loan Program lapsed on September 30, 2015, cutting off the ability for colleges and universities to make Perkins loans to new borrowers. The bipartisan Federal Perkins Loan Program Extension Act of 2015 builds on a bill unanimously passed by the U.S. House of Representatives in September and provides for an extension of the Perkins Loan Program through 2016 for current graduate borrowers and through 2017 for new and current undergraduate borrowers. Students must first exhaust their eligibility for a subsidized Direct Loan before receiving a Federal Perkins loan. Since 2016 has passed, graduate students are no longer eligible for Federal Perkins Loans.
Federal Graduate PLUS loans are a low-interest, federally backed student loan.
Federal Parent PLUS loans are loans a parent can borrow to help pay for his or her child's education expenses.