Loan Comparisons
| Subsidized | Unsubsidized | Perkins | Plus Loan | Private Alternative Loan | |
|---|---|---|---|---|---|
| Interest on loan accrues while in school? | No | Yes | No | Yes | Yes |
| Defer payments to loan principal while attending school at least half time? | Yes | Yes | Yes | Yes | Yes |
| Interest rate fixed? | Depends on undergraduate or graduate status. | Depends on undergraduate or graduate status. | Yes at 5% |
Yes at 7.9% |
No, variable |
| Co-signer required of borrower? | No | No | No | Depends upon borrower credit | Depends upon borrower credit |
| Credit check required? | No | No | No | Yes | Yes |
| How to apply for loan at UNLV? | FAFSA | FAFSA | FAFSA | FAFSA & PLUS Origination Worksheet | Complete the Alternative Form Worksheet |
| When does repayment on loan principal begin? | Six months after the student leaves school or does not re-enroll half time | Six months after the student leaves school or does not re-enroll half time | Nine months after the student leaves school or does not re-enroll half time | Deferment option available if student is enrolled at least half time | Six months after the student leaves school or does not re-enroll half time |
| Yearly borrowing limits? | Yes | Yes | Yes | Cost of attendance minus all other aid | Cost of attendance minus all other aid |
| Paperwork involved? | 1. Activate financial aid awards online 2. Sign Master Promissory Note online 3. Complete Entrance Loan Counseling online |
1. Activate financial aid awards online 2. Sign Master Promissory Note online 3. Complete Entrance Loan Counseling online |
1. Activate financial aid awards online 2. Sign Master Promissory Note online 3. Complete Entrance Loan Counseling online |
1. Activate financial aid awards online 2. Complete PLUS Loan Origination Worksheet online • For Parents • For Graduate 3. Sign Master Promissory Note online 4. Graduate Students must complete Entrance Loan Counseling |
1. Activate financial aid awards online 2. Complete Alternative Loan Worksheet online 3. Follow instructions with your lender |