Educational Borrowing

Students and families have the opportunity to manage educational costs through borrowing. Federal student loans are typically the best option, offering low interest rates and postponement of repayment until graduation. Eligibility for federal loans is contingent upon meeting GPA, satisfactory academic progress and enrollment requirements (six hours undergraduate, four hours graduate).

The Parent PLUS Loan is another federal loan option that offers reasonable rates and attractive repayment terms. This loan is available to the parents of undergraduate dependent students and is subject to application and credit approval.

Private loans typically accrue interest immediately and offer rates based on credit approval. Unlike federal loans, most undergraduate private loan borrowers will need a cosigner. Overall, federal loan programs are less expensive than private loans and should be considered first when developing your cost management plan.

Private Loans

Private loans should not be a first choice since interest typically begins accruing immediately and fluctuates with market rates.

Learn More

Student Loans

Federal loans, available to both undergraduate and graduate students, are either subsidized (interest-free before repayment begins) or unsubsidized (interest begins accruing upon loan disbursement).

Learn More

PLUS Loans for Undergraduate Students

PLUS is a federal borrowing opportunity for parents of undergraduate students enrolled in at least six (6) credit hours.

Learn More

PLUS Loans for Graduate Students

Graduate PLUS is a federal borrowing opportunity for students who have a bachelor's degree and are enrolled at least half-time in a degree-seeking graduate or professional program.

Learn More