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

• Long-term loan awarded to students who show exceptional financial need
• Subject to limited annual funding
• Awarded by the college
• Interest rate is 5 percent
• Loan amounts up to $5,500 per academic year
• Repayment and interest accrual begin nine months after last half-time enrollment for new borrowers
• Repayment made to Grinnell College through our servicer University Accounting Services (UAS). Contact the Grinnell College Office of the Cashier if you are ready to begin or are currently in repayment.

• Need-based long-term loan arranged through a bank, credit union, or savings and loan
• Application available from the school or online and must be certified by the school
• Annual limits of $3500-$5500 depending on grade level
• Loans disbursed after July 1, 2006 have a fixed interest rate of 6.8%
• Loans disbursed after July 1, 2008 have a fixed interest rate of 6.0%
• Loans disbursed after July 1, 2009 have a fixed interest rate of 5.6%
• For the subsidized loan, repayment and interest accrual begin six months after last half-time enrollment

• Non-need-based long-term loan arranged through a bank, credit union, or savings and loan
• Application available from the school or online and must be certified by the school
• Annual limits of $5500-$7500 (less any subsidized amounts received for the same period) depending on grade level and dependency status
• Fixed interest rate of 6.8% for loans disbursed after July 1, 2006
• The borrower is responsible for accrued interest during in-school and deferment periods

• Non-need-based long-term loan for parent borrowers arranged through a bank, credit union, or savings and loan
• Requires application from a lender or Grinnell (may be completed online) and must be certified by the school
• Maximum amount is the cost of education minus other aid
• 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)

• 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