Loan Comparison Chart: 2014-15 Academic Year

 Federal Direct Loan (Subsidized or Unsubsidized) College Access Loan (CAL) Federal Direct Plus (Parent) Loan Private Student Loans
Maximum Annual Loan Limits

Freshman: $5,500 - No more than $3,500 in subsidized loans

Sophomore: $6,500 - No more than $4,500 in subsidized loans

Junior and Senior: $7,500 - No more  than $5,500 in subsidized loans

Cost of attendance less other financial aid Cost of attendance less other financial aid Cost of attendance less other financial aid
Interest Rates Subsidized
3.86% Fixed
Unsubsidized
3.86% Fixed
5.25% Fixed 6.41 % Fixed Varies, Fixed and Variable
Origination Fees 1.072% Fixed 0%, 3%, or 5% 4.288% None
Repayment Terms Standard 10-year repayment period. Extended, Graduated, Income-contingent and Income-based options available Up to 20-year repayment period based on outstanding balance 10- to 20-year repayment period. Begins 60 days after final disbursement unless deferment is requested. Varies depending on outstanding loan balance and lender
Loan Deferment Automatic until graduation or after six months out of school Automatic until graduation or after six months out of school Upon request Varies
Enrollment Requirements At least half-time At least half-time At least half-time Varies depending on lender
Cosigner Required No Optional but needed for most undergraduate borrowers No Optional but needed for most undergraduate borrowers
Favorable credit Evaluation Not needed Borrower and/or cosigner Parent Borrower Borrower and/or cosigner
Websites studentloans.gov hhloans.com studentloans.gov acu.edu/sfs/loans
  • Subsidized loans are based on financial need as determined by FAFSA. All students are awarded the maximum amount they are eligible to recieve.
  • Unsubsidized loans are not based on financial need. If you are an independent student, or your parent is denied the Federal Direct PLUS Loan, you may be eligible for the following additional Federal Direct Unsubsidized Loan: Freshman/Sophomore- $4,000/year, Junior/Senior-$5,000/year.
  • Private student loans are available from various lenders. ACU provides a comparison of the options at acu.edu/loans

Federal Direct Loan Limits for Undergraduate Students

Annual Limits
Student Classification Base Amount Additional Unsubsidized
(with PLUS denial or Independent Student)
Total Limit
Freshman $5,500$4,000$9,500
Sophomore $6,500$4,000$10,500
Junior and Senior $7,500$5,000$12,500
Aggregate Limits
Student Dependency Status Subsidized Limit Total Limit
Dependent Undergraduate $23,000$31,000
Independent Undergraduate $23,000$57,500
  • Annual Limit - The amount a student can receive in an academic year based on the student's classification
  • Aggregate Limit - The maximum amount a student can receive while enrolled as an undergraduate student.
  • Subsidized - Loans are based on financial need as determined by FAFSA. The student will not be responsible for the interest until after graduation or at the point the student is no longer enrolled at least half time.
  • Unsubsidized - Loans are not based on financial need as determined by FAFSA. Students is responsible for principal and interest but is not required to make payments until after graduation or no longer enrolled at least half time.
  • Student Dependency Status - Based on the information provided by FAFSA. It is deferent than IRS or other determinations of dependency.