Student Financial Aid Federal School Code: 003425

Loans

Student loans can help fill the gap between the cost of attendance and the amounts received through scholarships and grants. It is important to remember, however, that these funds will need to be repaid, so students are encouraged to only borrow the amount that they actually need. If the loan approval is more than the amount needed, students can reduce the loan amount by following the directions provided in the iROAR portal on the Accept Aid Offer tab.

Federal Perkins Loan

Provides assistance to full-time undergraduates. Awards are made on the basis of financial need, with priority given to students demonstrating exceptional need. The FAFSA is required and priority given to applications submitted by March 1 for incoming freshmen and April 1 for upperclassmen.

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Federal Direct Loan

Federal Direct loans are federally regulated low-interest educational loans provided by lending institutions. Students must be degree-seeking, enrolled at least half-time (six hours for undergraduate; five hours for graduate) and maintain satisfactory academic progress. Financial need is not necessary, but the FAFSA is required. Available to undergraduate and graduate students.

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Federal Parent PLUS Loan

Parents of dependent undergraduate students can apply. Students must enroll at least half-time (six hours) and maintain satisfactory academic progress.  Financial need is not necessary, but the FAFSA is required.

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Federal Graduate PLUS Loan

Students enrolled in graduate programs can apply. Students must enroll at least half-time (five hours) and maintain satisfactory academic progress.  Financial need is not necessary, but the FAFSA is required.

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Private Loans

Private (or alternative) loans help bridge the gap between the cost of education and the limited amount of financial aid available through federal programs.

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South Carolina Teacher Loan and Career Changers Loan Programs

These programs provide loan assistance to qualified students in education. Recipients must be South Carolina residents.

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Loan Consolidation

Not applicable to in-school financing, but might be desirable if the student has loans from multiple sources.

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Conflict of Interest and Code of Conduct Policy

Clemson University policies regarding interaction with lending entities.

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Summary of Loan Programs

Loan Name Interest Rate
(disbursed from
7/1/10 to 6/30/11)
Origination Fee
(disbursed from
7/1/10 to 6/30/11)
Repayment Co-Signer
or Endorser
Needed?
Perkins Loan 5% Fixed None Begins 9 months
after graduation or
less than half-time
enrollment
No
Subsidized
Direct Loan
4.5% Fixed for
undergraduates
6.8% Fixed for
graduates
1.0% Begins 6 months
after graduation or
less than half-time
enrollment
No
Unsubsidized
Direct Loan
6.8% Fixed 1.0% Begins 6 months
after graduation or
less than half-time
enrollment
No
Parent PLUS
Loan
7.9% Fixed 4.0% Begins 60 days after
loan is fully
disbursed
Dependent
upon credit
decision
Graduate
PLUS Loan
7.9% Fixed 4.0% Begins 60 days after
loan is fully
disbursed
Dependent
upon credit
decision
Private Loans Variable Variable Variable May be
required -
highly
recommended