What are my options?
Borrowing funds for your education is a significant investment. The UAG is committed to helping applicants and students make educated decisions about how much to borrow and from which lender. Because responsibility to repay all funds borrowed plus interest accrued is ultimately yours as borrower, it is essential to understand how the process works and your role in it.
Universidad Autónoma de Guadalajara students may select one of the following loan options:
Stafford Loans
(Subsidized and Unsubsidized):
i. Subsidized loans are need-based. The Government determines eligibility from information contained in your Student Aid Report. Loan interest is paid by the government as long as you remain enrolled at least part-time at an eligible school. The loan is given at a fixed rate*.
ii. Unsubsidized loans are not need-based. This type of loan accrues interest from the moment the loan is disbursed to the school until it is paid off.
Stafford loans have a 1 % default fee and a 1.5% origination fee, taken by the lender prior to disbursement.
Parent Plus Loans are meant only for parents of a student who is enrolled in an Undergraduate Degree program and need additional funds after receiving eligibility for a Stafford loan.
Has a 3% origination fee and 1% default fee, taken by lender prior to disbursement
Graduate Plus Loans are loans designed to cover the difference between the Cost of Attendance (COA) and other aid. Expenses not usually covered by Stafford loans include food, room and board, transportation, etc. This loan is based on your credit score, and also has a fixed rate*.
3% origination fee and 1% default fee, taken by lender prior to disbursement
Who is eligible for Federal Loans?
- U.S. Citizens, nationals or other eligible non-citizens (Permanent Residents may be required to submit additional information).
- Student must be enrolled or accepted for enrollment in a degree or certificate program at UAG.
- Student must have a valid Social Security Number.
- Student must not be in default on any prior educational loan, or owe a refund or repayment on any educational grant.
- Student must maintain Satisfactory Academic Progress.
Once you have filed you FAFSA and obtained a valid Student Aid Report (SAR), UAG will be able to determine if you qualify for federal loans.
(*For all loans disbursed on/after July 01, 2006. For more details on the programs please consult with the lender.)
Similar to Graduate Plus Loans but without a Federal guarantee. These loans cannot be consolidated with other federal loans and have a variable rate of interest.
NOTE: Canadian citizens may only apply for private loans from certain lenders under their own signature or apply with a US credit-worthy co-signer. Please contact us for more information.
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