Columbia University Student Financial Services


Federal Loans

Subsidized and Unsubsidized Stafford Loans

Federal Stafford Loans are federally guaranteed variable interest-rate loans. There are two types of Federal Stafford Loans (see below). The interest rate on Federal Stafford Loans may change during each year of repayment. Currently the interest rate is fixed at 6.8 %. Repayment will begin six months after the student graduates or ceases to be registered for at least six credits. Loan funds are usually sent electronically to Columbia University for disbursement to the student account.

The two types of Federal Stafford Loans are:
  • Federal Stafford Subsidized Loan:The Federal Stafford Subsidized Loan is awarded on the basis of financial need, as determined by the results from the Free Application for Federal Student Aid (FAFSA) The federal government pays interest on the loan until repayment begins.
  • Federal Stafford Unsubsidized Loan: The Federal Stafford Unsubsidized Loan is not awarded on the basis of financial need. Interest is charged from the time the loan is disbursed until it is paid in full.
Students must complete the Free Application for Federal Student Aid before applying for Federal Loans.

In order to be eligible for Federal Stafford Loans:

The student must be:
  • Registered for at least 6 credits
  • Enrolled in an eligible degree or certificate program
  • Registered with Selective Service (if required)
  • Maintaining satisfactory academic progress
The student may not:
  • Be in default on a federal educational loan
  • Owe a refund on a federal grant
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Perkins Loans

The Federal Perkins Loan is a low fixed-interest rate subsidized loan. Currently the interest rate is fixed at five percent. The Federal Perkins Loan is awarded based on financial need and the Expected Family Contribution. Repayment will begin nine months after the student graduates or ceases to be registered for at least six credits.

Students must complete the Free Application for Federal Student Aid (FAFSA) before applying for federal loans.

In order to be eligible for the Federal Perkins Loan:

The student must be:
  • Registered for at least 6 credits
  • Enrolled in an eligible degree or certificate program Registered with Selective Service (if required)
  • Maintaining satisfactory academic progress
The student may not:
  • Be in default on a federal educational loan
  • Owe a refund on a federal grant
The Federal Perkins Loan Master Promissory Note can be accesssed through SSOL:
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PLUS Loans

Federal Graduate PLUS Loans are available to students who are in a graduate or professional degree program. The maximum a student can borrow is up to their cost of attendance minus any financial aid received. Federal Graduate PLUS Loan are approved based on the student borrower’s credit and therefore require that the applicant pass a credit review. Currently the Federal Graduate PLUS Loan has a low fixed interest of 8.5 percent. Columbia University has a list of suggested lenders; please see the lender chart.
Federal PLUS Loan are available to parents of dependent (as determined by the Free Application for Federal Student Aid) undergraduate students registered for at least six credits. The maximum amount that may be borrowed in an academic year is the cost of attendance minus any financial aid received. Federal PLUS Loans are approved based on the borrower’s credit and therefore require that the applicant pass a credit review. The Federal PLUS Loan interest rate is variable, adjusted annually, not to exceed 9.0 percent. Repayment begins sixty days after disbursement of the loan. Columbia University has a list of suggested lenders; please see the lender chart.

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