STEM UP

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STEM UP

MSC05 3130
1716 Las Lomas Road NE/1155 University Blvd. S.E.
Albuquerque, NM 87131

Physical Location:
The White House/South Campus

Phone: (505) 277-1723
Fax: (505) 277-1782

Loans


**The STEM UP grant program closed out on June 30, 2017.**


Understanding Student Debt

Loans

Loans refer to a given quantity of money that is made available in the present, from a lender to a borrower, and must be paid back sometime in the future with added interest. Interests on loans are charged according to the terms defined by the lender and accepted by the borrower. These terms relate to the rate of interest charged and the added principal amount at which the interest rate will be charged.

Student Loans

Student loans are offered to individuals who are enrolled as regular students. Students can choose to borrow Federal Student Loans, Private Student Loans or both.

Federal Student Loans

• Interest rates set by U.S. Congress on July 1st of every year
• Interest rate is the same to all borrowers regardless of their credit history
• Can be either Subsidized or Unsubsidized

Unsubsidized Federal Student Loans

• Interest rates set by U.S. Congress on July 1st of every year
• Interest rate is the same to all borrowers regardless of their credit history
• Interest rate starts accruing (accumulating) as soon as the loan is disbursed as opposed to when you graduate from school. In other words, charges on the money you borrowed begin when the money

Subsidized Federal Student Loans

Private Student Loans

Contingent on student status

Interest rates are defined by the lender based on borrower’s credit score