The following are links to additional Internet sites with information on careers, colleges, and financial aid. They are provided for your information and convenience; we do not endorse any products listed on these sites.

Come here to view the options available, from Grants to Loans along with explanations that can clear up the confusion.

Loans:

Federal Student Loans
The federal government offers two sources for federal loans: the Federal Family Education Loan Program (FFELP) and the William D. Ford Federal Direct Loan Program.

The FFELP was designed to provide wider access to federal loans as administered through eligible student loan lenders. Thousands of lenders across the country offer the FFELP.

The Direct Loan Program is administered directly through the U.S. Department of Education. Your school determines the program for which you will participate.

Stafford Loans
Stafford Loans are the most widely disbursed student loan. Almost every college student qualifies for some degree of funding.

Stafford Loans are available through FFELP lenders.

Subsidized Stafford Loans are administered to financially needy students and the federal government pays the interest while students are in school or during the grace period.

Unsubsidized Stafford loan recipients are responsible for the interest once the loan is disbursed.

Students enrolled at least half-time may apply for a Stafford Loan.

Loans require no credit check.

Following graduation borrowers have a six-month grace period before repayment of the loan begins.

Borrowers qualify for loans for each year they apply.

Students that meet independent eligibility qualify for more aid.

A fixed interest rate is applied to all Stafford Loans. (The interest rates will change annually on July 1st).

More info...
Visit the Paying for College section of our website to learn more about Stafford loans.

Parent PLUS Loan
The Parent PLUS Loan offers parents of dependent college students access to loan funds. The following criteria and features apply to the Parent PLUS Loan:

PLUS Loans are offered through the FFELP via a lender.

Students for whom the funds are borrowed must be dependent and in school at least half-time.

Parents are subject to a credit check.

Parents with poor credit may qualify with a co-signer.

Eligible borrowers may apply for loans equal to the outstanding balance of the tuition. Other forms of aid must be applied first, such as the Stafford Loan.

Repayment begins once the loan is fully disbursed.

A fixed interest rate is applied to FFELP PLUS Loans.

More info...
Visit the Paying for College section of our website to learn more about PLUS loans.

Graduate and Professional PLUS Loan
The Graduate/Professional PLUS Loan gives graduate students the ability to access federal loans. The following features define the Graduate PLUS loan:

Students must first apply for Stafford Loans.

Students must be a U.S. citizen.

Loans may cover the balance remaining on the borrower's tuition.

Graduate and Professional PLUS Loans may be accessed via a FFELP lender.

Applicants are subject to a credit check, but in the case of poor credit may borrow with a co-signer.

A fixed interest rate is applied to FFELP Graduate and Professional PLUS loans.

Borrowers must be enrolled at least half-time in a college program.

More info...
Visit the Paying for College section of our website to learn more about Graduate PLUS loans.

Perkins Loan
Although the Perkins Loan is a federally funded student loan, the government classifies them under "campus-based aid." Simply put, the Perkins Loan is disbursed directly through a student's campus with funds provided by the government.

Eligible borrowers may be undergraduate or graduate students.

Applicants must prove significant financial need.

The key to receiving a maximum award is to apply early. Campuses only have so much in their Perkins coffers; when it's gone, it's gone. Maximum annual awards are $4,000.

Amount of the Perkins Loan awarded is determined by the amount of other federal aid disbursed to the borrower.

Borrowers receive a nine-month grace period following graduation before repayment begins.

Interest rates for Perkins loans are fixed.

More info...
Visit the Paying for College section of our website to learn more about Perkins loans.

Applying for Federal Student Loans
Any student that wishes to be considered for federal student loans, either through a FFELP lender or Direct Loan Program, must first complete the Federal Application for Free Student Aid, a.k.a. the FAFSA. The FAFSA is the key to federal aid; without it, a student is ineligible for consideration. In fact, other student loan entities require the FAFSA for consideration under their own programs.

The priority deadline for the FAFSA varies from college to college while the federal deadline is the end of June. Applicants that will apply for state aid that requires the FAFSA must adhere to state deadlines which could be very early.

Students are advised to complete and submit the FAFSA regardless of assumptions about eligibility for aid.

Applicants must be prepared to provide information regarding income taxes, household income, auxiliary debt, bank account and investment information, social security numbers and driver's license numbers.

More info...
Visit the Paying for College section of our website to learn more about federal loans.

Repaying Federal Student Loans
Flexible repayment options are another feature of the federal loan program. Borrowers choose among the following types of repayment plans that take into consideration a range of financial situations:

Standard repayment terms — Borrowers have 10 years to repay and payments are a consistent amount combining principal and interest.

Graduated repayment terms — Feature lower payments at the beginning of the repayment that gradually increase through the life of the repayment.

Income contingent repayment plan — Monthly payments are based on current income and are often well-suited to new grads. Direct Parent PLUS Loan borrowers are ineligible for this repayment option.

Extended repayment — This is offered to borrowers with more student loan debt than the norm. Monthly payments are lower over an extended period of time.

More info...
Visit the Paying for College section of our website to learn more about repaying federal loans.

Private Education Loans
Private Education loans, sometimes called Alternative student loans, offered through student loan providers and private lenders, give students a typically more affordable option than general signature loans. The development of alternative loans was spurred along by the growing gap between federal loan awards and the skyrocketing costs of college tuitions everywhere.

Borrowers applying for alternative loans must apply directly through the lender. The following features are common among alternative student loans:

Borrowers are subject to credit checks. In the event of poor credit, borrowers may apply with a co-borrower.

Variable interest rates are common and borrowers with good credit or a co-borrower with good credit may be granted a discount on the interest rate.

High loan limits make it possible for both undergraduates and graduate students to cover the costs associated with high-dollar programs.

Many loans only require borrowers to pay interest while in school.

More info...
Visit the Paying for College section of our website to learn more about Private Education (Alternative) loans.