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The Department of Education web site has information about the fees the government charges when you take out a Stafford loan.

There are limits on the amount of Stafford loans you can borrow.

There are limits on the amount in subsidized and unsubsidized loans that you may be eligible to receive each academic year (annual loan limits) and the total amounts that you may borrow for undergraduate and graduate study (aggregate loan limits).

The actual loan amount you are eligible to receive each academic year may be less than the annual loan limit.

The Department of Education web site has information about the fees the government charges when you take out a PLUS loan.

Unlike Stafford loans, PLUS borrowers are generally required to pass a credit check.

Since 2010, most of these loans are made directly by the government. There are also many older loans made by private lenders, but guaranteed by the government.

The Department has a fact sheet with information about the different types of loans and borrowing limits. The maximum interest rates, and many of the important terms of federal loans are set by Congress, and are similar in both the FFEL and Direct Loan programs.

Unless the lender determines that extenuating circumstances exist, you will not pass the credit check if you: Consolidation is similar to refinancing a loan.

You can consolidate all, just some, or even just one of your student loans.

Federal student loan amounts and terms for loans issued in 2019-20 Stafford loans are for undergraduate, graduate and professional students enrolled at least half-time. A subsidized loan is awarded on the basis of financial need, and the government pays the interest before repayment begins or during authorized periods of deferment.

Unsubsidized loans are not awarded based on financial need and borrowers are responsible for all interest.

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Interest Rates for Newer Loans: PLUS loans come in two varieties: 1) Parent PLUS loans are for parents borrowing for the education of dependent undergraduate children enrolled in school at least half time and 2) “Grad PLUS” loans are available for graduate and professional students.

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