LOANS
What is a student loan?
Loans (self-help aid) are funds which must be repaid. Loans are sources of financial assistance that allow you to spread the cost of education during the academic year. Federal Student Loans are not automatically included on the student's award package. Students are not required to borrow a Federal Student Loan.
Loans are serious legal obligations. They must be repaid. We urge all first-time borrowers to spend some extra time learning about the loan process so that they can make informed choices throughout their education.
Loan Process and Requirements
NSLDS Disclosure
Please note that any loans borrowed by the student or parent will be submitted to the National Student Loan Database System (NSLDS) and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.
Types of loans available:
- Federal Direct Loan Program (Subsidized)
- Federal Direct Loan Program (Unsubsidized)
- Federal PLUS Loan
Types of Direct Loans
Private Loans
The Office of Financial Aid recommends that students utilize federal student loans before considering private educational loans. Federal loans have lower fixed interest rates and also have deferment and consolidation options. Students who need further financing beyond federal student loan eligibility should select the loan that best meets funding needs and offers the best interest rate and borrower benefits.
Financial Aid representatives are available to discuss loan options if students are seeking to decide between a Federal Direct Stafford Loan or a private, alternative loan.