LOANS are both need and non-need based that the student DOES pay back (must complete the
FAFSA to apply).
LOAN INFORMATION
Always borrow federal first. Federal student loans are cheaper, more available and have better repayment terms than private/student loans.
Federal Perkins Loan: For undergrad and grad students
- Undergrad students: loan amount up to $5,500
- Grad and Professional students: loan amount up to $8,000
- College is the lender
Direct Subsidized Stafford Loan: For undergrad and grad students enrolled at least half time
- Loan amount between $3,500 and $5,500, depending on the school year
- No interest charged while in school
- Department of Education is the lender
Direct Unsubsidized Stafford Loan: For undergrad and grad students enrolled at least half time
- Loan amount between $6,000 and $20,500, less subsidized amount
- Student is responsible for interest
- Department of Education is the lender
Direct PLUS Loan for Parents: For parents of dependent students enrolled at least half time
- Loan amount is maximum cost of attendance, less any other financial aid
- Parent is responsible for the interest
- Department of Education is the lender
Direct PLUS Loan for Grad or Professional Students: For grad or professional students enrolled at least half time
- Loan amount is maximum cost of attendance, less any other financial aid
- Student is responsible for interest
- Department of Education is the lender