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U W Oshkosh Website

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The need for financial aid is growing, and the single largest source of student aid is the U.S. government. The government guarantees student loans through a program called the Federal Family Education Loan (FFEL) Program. There are three types of FFEL Program loans:

Subsidized Federal Stafford Loan:
 A student must prove financial need to receive the loan. Annual loan limits range from $2,625 to $8,500. The government pays the interest on the loan while the student is in school and for six months after leaving school (including graduation).

The interest rate on the subsidized Stafford Loan for new loans, based on first disbursed date, is as follows:

  • July 1, 2008–June 30, 2009 the interest rate is 6%.
  • July 1, 2009–June 30, 2010 the interest rate is 5.6%.
  • July 1, 2010–June 30, 2011 the interest rate is 4.5%.
  • July 1, 2011–June 30, 2012 the interest rate is 3.4%.
  • Beginning July 1, 2012 the rate is 6.8%.
  • Subsidized Stafford loans for graduate and professional student and all unsubsidized Stafford loans is 6.8%.
  • The interest rate on Stafford loans first disbursed beginning July 1, 2006 is fixed at 6.8%.
  • The interest rate on Stafford loans first disbursed on or after July 1, 1998 but before June 30, 2006 is variable. and may change on July 1 of each year but will never exceed 8.25%.

The same rates apply to the in-school, grace and repayment periods.

If you are selecting the UW Oshkosh Credit Union as your lender for this type of loan, our lender code is 833-426. **Please note, you must be a member of UW Oshkosh Credit Union in order to use us as your lender**

Unsubsidized Federal Stafford: Unsubsidized Federal Stafford loans are available to all students regardless of income. Annual loan limits are the same as for the subsidized Federal Stafford loan. With the unsubsidized Federal Stafford loan, the student is responsible for all interest due on the loan from the date it is disbursed; however, interest can be deferred.

The interest rate on the unsubsidized Stafford Loan first disbursed after July 1, 2006 is a fixed rate of 6.8%. The same rate applies to the in-school, grace and repayment periods.

If you are selecting the UW Oshkosh Credit Union as your lender for this type of loan, our lender code is 833-426. **Please note, you must be a member of UW Oshkosh Credit Union in order to use us as your lender**

Federal Parent Loans for Undergraduate Students (PLUS): Federal PLUS loans are granted to creditworthy parents of dependent, undergraduate students. Parents are responsible for all principal and interest due on the loan. Parents may borrow up to the cost of education, less any aid the student receives.

  • The interest rate on PLUS loans first disbursed beginning July 1, 2006 is fixed at 8.5%.
  • The interest rate on PLUS loans first disbursed on or after July 1, 1998 but before June 30, 2006 is variable and may change annually on July 1 but will never exceed 9%. The current interest rate on these variable rate PLUS loans is 5.01%.

If you are selecting the UW Oshkosh Credit Union as your lender for this type of loan, our lender code is 833-426. **Please note, you must be a member of UW Oshkosh Credit Union in order to use us as your lender**

PRIVATE STUDENT LOANS

At this time, we are undergoing a vendor change for our private student loans.  Please check back periodically for updates.


           
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government

E-mail us at uwoshcu@uwosh.edu.  We will get back to you within one business day.
Copyright © 2006 UW Oshkosh Credit Union
Last modified: 11/12/09