Loans
What They Are:
These financial aid dollars must be repaid with interest. There are several types of loans available to students (in order of lowest interest rate to highest interest rate): federal subsidized student loans, federal unsubsidizes student loans, federal Parent PLUS loans, and private loans. All federal loans allow for a six-month grace period after a student graduates or drops below half time enrollment before the repayment period begins.
How To Get Them:
Federal student loans and parent PLUS loans are awarded through the FAFSA. Private student loans can be found through a number of sources like banks, credit unions, credit card companies, etc.
Very Important:
Federal loans are usually a better option than private loans. Federal loans offer a variety of repayment plans, lower interest rates, amd are sometimes forgiven completely (if the student works in certain service positions after graduation).
These financial aid dollars must be repaid with interest. There are several types of loans available to students (in order of lowest interest rate to highest interest rate): federal subsidized student loans, federal unsubsidizes student loans, federal Parent PLUS loans, and private loans. All federal loans allow for a six-month grace period after a student graduates or drops below half time enrollment before the repayment period begins.
How To Get Them:
Federal student loans and parent PLUS loans are awarded through the FAFSA. Private student loans can be found through a number of sources like banks, credit unions, credit card companies, etc.
Very Important:
Federal loans are usually a better option than private loans. Federal loans offer a variety of repayment plans, lower interest rates, amd are sometimes forgiven completely (if the student works in certain service positions after graduation).