Loans

Federal student loans for education are provided through the Federal Direct Loan Program. They are provided and administered by the U.S. Department of Education. For more information, visit the Direct Loan Program website at http://www.StudentLoans.gov.

Types of Direct Loans:

Direct Subsidized Stafford Loans

Are for students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half-time, during the grace period and during deferment periods.

Direct Unsubsidized Stafford Loans

Are not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.

Direct PLUS Loans

Are unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.

Direct Consolidation Loans

Eligible federal student loans can be combined into one Direct Consolidation Loan.

Perkins Loans

Perkins Loans are need-based federal loans provided to the borrower by the college they choose to attend. No interest accrues on Perkins Loans while the borrower is in school, during an approved deferment or in the grace period. Repayment begins nine months after a student leaves school, graduates or drops to less than half-time attendance.