Loans

Money borrowed to assist with educational costs and which must be repaid with interest. Loan programs and terms vary depending upon financial aid eligibility.

Federal Perkins Loan - provides low-interest loans for eligible undergraduate and graduate students with preference to students with exceptional financial need. Payment on these loans begin 9 months after graduation or 9 months after the student is no longer enrolled in at least half-time.

Federal Direct Subsidized Loan - provides government insured, long-term, low-interest loans for eligible undergraduate and graduate students. Interest on this loan is paid by the federal government while the student is enrolled at least half-time. Students must demonstrate financial need through the standard FAFSA to be eligible for this loan.

Federal Direct Unsubsidized Loan - provides government-insured, long-term, low-interest loans for eligible undergraduate and graduate students who generally do not qualify for other need-based financial assistance or who need loan assistance beyond the maximums provided by the subsidized loan program. This loan does accrue interest once it is disbursed to the student.

Federal Parent Loan for Undergraduate Students - provides government-insured, long-term, low-interest loans for eligible parents of dependent, undergraduate students. Parents may borrow up to the total cost of attendance minus any other aid for which the students are eligible.