William D. Ford Direct Loan Program

This is a low-interest loan taken out by the student. The FAFSA must be completed in order to be eligible. Interest rate for both the Subsidized and Unsubsidized Loans: 6.8 percent. Repayment begins six months after graduation or if the student drops below half-time status. The Subsidized Loan is based on need, and interest is paid by the government while the student is in school; interest on the Unsubsidized Loan begins to accrue upon disbursement of funds.  

The Federal Government requires all new, first-time borrowers to complete Loan Entrance Counseling and a Master Promissory Note. Please click here for more information and to complete these two loan steps. 

Private Loans

This is a variable rate loan that students take out on their own behalf. This loan requires a credit check and possibly, a cosigner. Interest rates vary depending on the lender. Please note that an alternative loan should be considered a loan of last resort.  You may qualify for Title IV loans (William D. Ford Direct) and should first explore these options before seeking an alternative/private education loan. 

Private loans should be considered a last resort. Find out why.