Students can borrow loan funds when other sources are not sufficient to cover tuition expenses. We encourage students to maximize scholarships and summer earnings in order to minimize overall loan debt.

REMEMBER: Loans must be repaid! Any loan amount that is borrowed will have to be repaid along with any interest that accrues on a student loan. Loans should only be used after all other sources of income have been exhausted.

There are three basic types of loans:

  • Direct Subsidized/Unsubsidized Loans

    Student loans provided by the federal government. These loans typically have a lower interest rate with more repayment options. We encourage you to utilize these loans before pursuing other loan options.

  • Student Alternative Loans

    Student loans provided by various private lenders. These loans typically require a co-signer and the interest is often higher than the federal direct loans with limited repayment options.

  • Direct PLUS Loans

    Educational loans provided by the federal government that parents can borrow to help cover educational costs of their students. These loans have a fixed interest rate and payments can be deferred while the student is enrolled in school, however interest would still accrue.