Have you been offered a loan?

If you are offered a loan, you don't have to accept it, but if you do, you need to make sure you know the specifics to make a wise choice.

  • Subsidized - no payments due until after a student isn't enrolled full-time for a specified time.
  • Unsubsidized - interest begins to accrue the day the money is disbursed.

Loan Brokers

  • Federal Direct Loans - Subsidized direct loans
  • Perkins & Stafford Loans - These federal, subsidized loans are offered to students demonstrating the greatest financial need. Awards are based on a student's need and a student's available funding.
  • Private Loans - Private loans, like from a bank, credit union or an organization, typically have higher interest rates than federal loans, and are generally unsubsidized.