Federal Loans

Loans are funds that you must Repay. The Federal Loan Programs offer a secure, government-regulated and reasonably affordable way to invest in yourself and your goal of a higher education. Even though some loans are based on financial need, there are programs available to all federally eligible students regardless of income. Types of loans include PLUS Loans (for parents of undergraduate dependent students).

Federal Direct Student Loan (Subsidized and/or Unsubsidized) are federally supported, low-interest student loans with flexible repayment options. Subsidized loans are offered to students who are eligible on the basis of calculated financial eligibility, while unsubsidized loans are available even for those who do not qualify for need-based financial aid. Students must be enrolled for at least 6 credits (half time status) of enrollment to be eligible for a federal loans.

Federal Direct Parent Loan for Undergraduate Students (PLUS) is a federally funded loan available for parents to borrow on behalf of their dependent students to help finance their college education. The parent borrower must be the dependent student’s biological or adoptive parent. A stepparent is also eligible to borrow a PLUS Loan only if their income and assets were used on the student’s Free Application for Federal Student Aid in the academic year that loan is being requested.

Private Education Loans

Private Education Loans, also known as Alternative Loans, are credit-based loans that can help bridge the gap between the actual cost of your education and the amount of your other financial aid funds. Private loans are offered by private lenders and should only be considered after exhausting all other sources of funding – including federal loans.