Use our loan comparison chart as a quick, convenient reference guide to the features, terms and repayment details for Stafford, PLUS, Perkins and alternative loans.

For more information, like how to apply for a loan, contact your college's financial aid office.


Loan Comparison Chart
Stafford Subsidized LoanStafford Unsubsidized LoanParent PLUS
Loan		Graduate/
Professional
PLUS
Loan		Perkins
Loan		Alternative
Loan		New York Higher Education Loan Program (NYHELPs)
No credit checkNo credit checkMust be credit worthyMust be credit worthyNo credit checkMust be credit worthyMust be credit worthy
Only student loan borrower responsible for repayment, no cosigner needed.Only student loan borrower responsible for repayment, no cosigner needed.Only parent borrower responsible for repayment, no student responsibility.Student loan borrower responsible; no cosigner required.Student loan borrower is responsible for repayment, no cosigner needed.Student loan borrower responsible, if credit worthy, no cosigner needed. If cosigner needed, equal shared responsibility for repayment and debt.Borrower and cosigner are responsible
Loan LimitsLoan LimitsLoan LimitsLoan LimitsLoan LimitsVaries by LenderLoan Limits
Death/Disability benefitDeath/Disability benefitDeath/Disability benefitDeath/Disability benefitDeath/Disability benefitNo Death/Disability Benefit. If borrower should die or become totally and permanently disabled, the borrower and cosigner are still responsible for debt.Death/Disability benefit while student is in school
Deferment / Forbearance eligibilityDeferment / Forbearance eligibilityDeferment / Forbearance eligibilityDeferment / Forbearance eligibilityDeferment / Forbearance eligibilityPossible Deferment / Forbearance eligibilityDeferment / Forbearance eligibility
Federally guaranteedFederally guaranteedFederally guaranteedFederally guaranteedFederally guaranteedNot Federally guaranteedNot Federally guaranteed
Can be consolidated with other federal guaranteed loans through federal guarantee agencyCan be consolidated with other federal guaranteed loans through federal guarantee agencyCan be consolidated with other federal guaranteed loans through federal guarantee agencyCan be consolidated with other federal guaranteed loans through federal guarantee agencyCan be consolidated with other federal guaranteed loans through federal guarantee agencyCannot be consolidated with other federal guaranteed loans through federal guarantee agencyNot applicable
Interest is not charged to your loan until 6 months from the time you leave school or drop below half time in school statu, or during periods of deferment.Interest is charged to your loan from the time the loan is disbursed to the school. You can make payments or capitalize (defer) interest until leaving school, subject to approval.Interest is charged to your loan from the time the loan is disbursed to the school.Interest is charged to your loan from the time the loan is disbursed to the school.Interest is not charged to your loan until 9 months from the time you leave school or drop below half time in school status.Interest is charged to your loan from the time the loan is disbursed to you.Interest is charged to your loan from the time the loan is disbursed to the school. You can make payments or capitalize (defer) interest until leaving school, subject to approval.