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Federal Loans
- Loans are a type of federal aid that must be repaid.
- Based on your financial need, you may be eligible for having the Government pay your loan interest; called a subsidized loan.
- If applying for federal direct student loans, you must be enrolled as, at least, a half-time student.
- In some cases a student will be approved for a Pell Grant and have the rest of his/her education costs financed with a federal loan. Again, this is dictated by your financial need.
- Your financial package (grant and/or loans combination), is determined through Federal Student Aid application process, including your submission of the FAFSA.
- PLUS loan applicants must follow a different application process.
- You will need to complete your FAFSA each year to determine yearly eligibility for loans.
- We support the following types of Federal Loans:
Loan Type | Eligibilty | Award amounts | Interest Rates | Lender/Length of Repayment |
Undergraduate and graduate students; must be enrolled at least half-time
| $3,500-$8,500
Amount depends on grade level, dependency status, and financial need | Fixed rate of 3.4% for loans made to undergrads
Fixed rate of 6.8% for loans made to graduate students
Government pays interest on subsidized loans during school and certain other periods | Lender is the US. Department of Education; Repay Department
Duration: 10-25 years to repay, depending on amount owed and type of repayment plan selected | |
Same as above | $3,500-$20,500
Minus any subsidized loan amounts received | Same interest rates as above; | Same as above | |
Parents of dependent undergraduate students enrolled at least half-time | Maximum amount is cost of attendance minus any other financial aid you receive | Fixed rate at 7.9% | Same as above |
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- Call Admissions 877-777-9081
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- Request Info
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