Loans are one of the three major types of student aid. Unlike grants and work study which do not have to be repaid by the student, loans are a form of aid that must be repaid after graduation or when attendance drops below half-time status (minimum of 6 credit hours).
The following types of loans are available to students and/or their parents. If you decide to borrow always think federal aid first! Complete a FAFSA online at www.fafsa.ed.gov after Jan 1st each year to take advantage of federal grants and Federal Direct Loans. More information is available by clicking on a specific loan program.
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Loan Program |
Who May Borrow? |
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Undergraduate Students* |
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Undergraduate & Graduate Students |
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Parents of Dependent Undergraduate Students |
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Graduate Students |
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Undergraduate and Graduate Students** |
*Direct Subsidized Loans are no longer available to graduate students for loan periods that begin on or after July 1, 2012. The annual loan limit has not changed.
**These loans are available through commercial lenders based on credit approval. These loans are not guaranteed by the federal government and often require a cosigner for approval.