A variable low interest rate loan based on financial need. The federal government will pay the interest while the student is in-school, during the grace period and authorized deferment periods. The variable interest rate will not exceed 8.25% and is adjusted annually.
Need-based loan program for which the federal government pays the interest to the lender on the student's behalf while the student is enrolled at least half time, during the grace period, and during periods of authorized deferment.