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Financial Aid 101



Federal Work-Study

Federal Direct PLUS Loan

What is the interest rate?

It varies but can never be more than 9%. The interest rate is adjusted each year on July 1 and is calculated according to a federal formula. Your parents will be informed of later changes in the interest rate. Interest is charged on the loan from the day the first disbursement is made until the day the loan is paid in full.

Check here for current education loan interest rates.

Are there any other charges for this loan?

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The City University of New York

Borough of Manhattan Community College
The City University of New York
199 Chambers Street, New York, NY 10007
212-220-8000 | Directory

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