Loan Comparison Quick Reference
Use our loan comparison chart as a quick, convenient reference guide to the features, terms and repayment details for Federal Direct, PLUS, Perkins and private loans.
For more information, like how to apply for a loan, contact your college's financial aid office.
Loan Comparison Chart
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Federal Direct Subsidized Loan | Federal Direct Unsubsidized Loan | Federal Direct PLUS Loan | Federal Direct Graduate/ Professional PLUS Loan | Perkins Loan | Private Loan |
No credit check | No credit check | Must be credit worthy | Must be credit worthy | No credit check | Must be credit worthy |
Borrower responsible for repayment, no cosigner needed | Borrower responsible for repayment, no cosigner needed | Borrower responsible for repayment, no student responsibility | Borrower responsible for repayment, no cosigner needed | Borrower responsible for repayment, no cosigner needed | Borrower responsible for repayment; no cosigner needed if creditworthy. If cosigner needed, equal shared responsibility for repayment and debt |
Loan limits | Loan limits | Loan limits | Loan limits | Loan limits | Limits vary by lender |
Death/disability benefit | Death/disability benefit | Death/disability benefit | Death/disability benefit | Death/disability benefit | Death/disability benefit availability varies; contact lender |
Deferment/ forbearance eligibility |
Deferment/ forbearance eligibility |
Deferment/ forbearance eligibility | Deferment/ forbearance eligibility | Deferment / forbearance eligibility |
Possible deferment/ forbearance eligibility |
Can be consolidated with other federal loans | Can be consolidated with other federal loans | Can be consolidated with other federal loans | Can be consolidated with other federal loans | Can be consolidated with other federal loans |
Consolidation not applicable |
Interest is not charged to your loan until 6 months from the time you leave school or drop below half time in school status, or during periods of deferment | Interest is charged to your loan from the time the loan is disbursed to the school. You can make payments or capitalize interest until leaving school, subject to approval | Interest is charged to your loan from the time the loan is disbursed to the school | Interest is charged to your loan from the time the loan is disbursed to the school | Interest is not charged to your loan until 9 months from the time you leave school or drop below half time in school status |
Interest is charged to your loan from the time the loan is disbursed to you |