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The following chart provides an overview of the federal student loans offered by the Arizona Higher Education Loan Authority. For details on each higher education loan program or to apply, please click on the specific loan.
AHELA Federal Student Loans
Loan Features |
Federal Stafford Loan (for loans disbursed on or after July 1, 2008 |
Federal Parent & GRAD PLUS Loans (effective July 1, 2008) |
Origination Fee |
1.0% |
3% (required fee) |
Federal Default Fee |
1.0% |
1.0% |
Interest Rate |
6.0% Fixed for Undergraduate Subsidized / 6.8% for graduate loans and Undergraduate Unsubsidized |
8.5% Fixed; as low as 7.5% with borrower incentives |
Borrower Incentives |
- 0.25% interest rate discount for enrolling in automatic payments
- 0.50% immediate interest rate discount* |
- 0.50% interest rate discount for enrolling in automatic payments
- 0.50% immediate interest rate discount* |
Annual Loan Limit |
$3,500 – $20,500 based on grade level |
Cost of attendance less other financial aid |
Aggregate Loan Limit |
$57,500 Undergraduate
$138,500 Graduate |
None |
Grace Period |
6 Months |
None, Parent PLUS forbearance & GRAD PLUS in-school deferment available |
Standard Repayment Term |
Up to 10 years; 25-year extended term available for eligible borrower who meet the required $30,000 minimum in required in combined federal loans** |
Up to 10 years; 25-year extended term available for eligible borrower who meet the required $30,000 minimum in required in combined federal loans** |
Additional Payment Options |
Level, graduated, or income-sensitive payments |
Level, graduated, or income-sensitive payments |
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* You remain eligible for On-time payment incentives as long as payments continue to be made on time (within 60 days of the due date). If you lose this incentive, it may be regained after 24 months of on-time payments. See your servicer for details.
**Available to new borrowers after October 7, 1998.
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