Loans
Understand all your borrowing options. If you have any questions, do not hesitate to contact us at help@touro.edu.
Depending on your level of financial need, you can apply for a Federal Direct Subsidized/Unsubsidized Loan, a Federal Direct Parent PLUS Loan for dependent students, or a combination of private and alternative loans.
Before accepting any loan, make sure you have a clear understanding of the interest and fees you’ll pay on it as well as your repayment plan options.
|
Federal Direct Subsidized Loan |
Federal Direct Unsubsidized Loan |
Federal Direct Parent Plus Loan |
Private / Alternative Loans |
---|---|---|---|---|
Interest Rate |
Fixed at 2.75% between 7/1/20 – 6/30/21 |
Fixed at 2.75% between 7/1/20 – 6/30/21 (Interest accrues from the date of disbursement) |
Fixed at 5.30% between 7/1/20 – 6/30/21 |
Variable |
Origination Fees |
Origination Fee is 1.057% between 10/1/20 – 9/30/21 |
Origination Fee is 1.057% between 10/1/20 – 9/30/21 |
Origination Fee is 4.228% between 10/1/20 – 9/30/21 |
Fees vary based on lender, loan type and credit history. |
Annual Loan Limits |
Up to $5,500 depending on grade level and dependency status. For total lifetime limit, go to studentaid.gov/subunsub |
Up to $12,500 For total lifetime limit, go to studentaid.gov/subunsub |
Up to the total cost of attendance minus other financial aid received. |
Depends on lender and credit history |
Credit Requirements |
No credit checks |
No credit checks |
Credit checks required |
Credit checks required |
Deferment/Forbearance |
Available |
Available |
Available |
Depends on Lender |
Repayment |
Grace period is 6 months after graduation, last day of attendance or fall below half-time. |
Grace period is 6 months after graduation, last day of attendance or fall below half-time. |
No grace period. |
No grace period. |
Calculating Your Student Loans
Our Student Loan Calculator can help you determine how much money you’ll need to borrow.