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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.
Stafford - Student Loans
- Federal need and non-need based program
- Fixed 6.8% interest rate; Subsidized Stafford Loans for undergraduate students only that are first disbursed on or after 7/1/11 will carry a fixed interest rate of 3.4%
- Subsidized Federal Stafford Loans available to eligible students registered at least half-time
- Unsubsidized Federal 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
Perkins - Student Loans
- Federal need-based program
- Fixed 5% interest rate
- UConn is the Lender
- Available to eligible full-time students
- Repayment begins nine months after a student's enrollment drops below half-time status or the student graduates
- FAFSA is required
- Complete the Perkins Loan Master Promissory Note requirement
- Borrowers use ECSI to complete the Exit Counseling requirement
PLUS - Parent or Graduate Student Loans
- Federal non-need based program
- Credit check conducted to establish eligibility
- Parent borrowers: repayment begins 60 days after final disbursement (deferment options available). Beginning in 2011-2012, 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.
- 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.
Alternative - Student Loans
- Non-federal private loan options
- Variable interest rates; most have no cap
- You should 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
Still have questions? Read our General Loan FAQs
