Skip Navigation LinksTypes-of-Loans-and-Limits Types of Loans and Limits


Types of Loans and Limits

Skip Navigation LinksHome International Students Types of Loans and Limits


UJ is only eligible to offer the following types of loans:

Subsidized Loan

This loan is granted on financial need. Interest on the loan is charged from the time the loan is disbursed until the debt is paid. Because the loan is subsidized the US Government will pay the interest for you while you are registered or on University approved abeyance and during the 6 months grace period granted after you complete your studies.


Unsubsidized Loan

This loan is NOT granted on financial need. Because the loan is not subsidized you are responsible for the interest payable from the time the loan is disbursed to you but you can choose to defer the payments while you study.  However, the interest accrued will then be added to your principle debt.

Graduate Plus Loan

This loan is granted to graduate students and has no limit. However, the loan amount cannot exceed your Cost of Attendance minus all other financial assistance received through Direct Loans. A credit check is done on the applicant before the loan is approved. You are responsible for the interest payable from the time the loan is disbursed to you. Although you can choose to defer the payments while you study, the interest accrued will be added to your principle debt.

Parent Plus Loan

The parents of a dependant undergraduate student can apply for this type of loan which has no limit but the funds can only be used to cover the students Cost of Attendance minus all other financial assistance received through Direct Loans. A credit check is done before the loan is approved.

Private loans

A student can apply for a private loan to assist in paying for their education. You can obtain this loan from any private lender provided that you meet their requirements and are subjected to a credit check.


ANNUAL FEDERAL LOAN MAXIMUM AMOUNTS

Dependent Undergraduates

Subsidised Loan

 Unsubsidised Loan

 Annual Loan Limit

Year 1

US$3,500

 US$2,000

US$5,500

Year 2

US$4,500

 US$2,000

US$6,500

Year 3 and above

US$5,500

 US$2,000

US$7,500

Independent Undergraduates

 Subsidised Loan

 Unsubsidised Loan

 Annual Loan Limit

 Year 1

 US$3,500

 US$6,000

  US$9,500

 Year 2

 US$4,500

 US$6,000

US$10,500

 Year 3 and above

 US$5,500

 US$7,000

US$12,500

Graduates or Professionals

Subsidised Loan

Unsubsidised Loan

Annual Loan Limit

 Each Year

 US$0

 US$20,500

US$20,500

 

AGGREGATE FEDERAL LOAN MAXIMUM AMOUNT

 

 Subsidised

Aggregate Maximum

Dependent Undergraduate

US$23,000

US$31,000

Independent Undergraduate

US$23,000

US$57,500

 Graduate

US$65,500

US$138,500 

 

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