Grinnell awards educational loans primarily from the federal loan programs. These programs provide students and their parents with long-term, low-interest loans.

• Long-term loan arranged through a bank, credit union, or savings and loan
• Application available from the school
• Fixed rate (currently 6.8%) for loans disbursed after July 1, 2006
• For the subsidized loan, repayment and interest accrual begin six months after last half-time enrollment
• For the unsubsidized loan, which is not need-based, the borrower is responsible for interest during in-school and deferment periods

• Long-term loan available to students who show exceptional financial need
• Awarded by the institution
• Interest rate is 5 percent
• Repayment and interest accrual begin nine months after last half-time enrollment for new borrowers
• Ranges from $200 to $4,000 per academic year

• Long-term loan for parent borrowers
• Arranged through a bank, credit union, or savings and loan
• Requires application from a lender or Grinnell
• Maximum interest rate is 9 percent and interest accrual begins at disbursement
• Repayment begins 60 days after disbursement (it is possible to defer repayment of principal)
• Maximum amount is the cost of education minus other aid

• Long-term, low-interest institutional loan based on financial need
• Repayment begins six months after the student leaves Grinnell College
• Ranges from $200 to $4,000 per academic year

• Long-term private loan used to replace expected family contribution
• Contact the Office of Student Financial Aid for more information
• Maximum amount per academic year is cost of attendence minus other aid