Loans
A loan is a form of financial听aid that听must be repaid by the borrower.
Loans should听only be borrowed after having exhausted all other forms of financial aid, such as scholarships, grants, and work study. Students and families considering听loan borrowing are strongly encouraged to听apply for federal student aid loans.听Visit the .
Remember, the money borrowed will need to be paid back鈥攕o only borrow what you need!
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When and What to Borrow
To determine the amount of loan funds needed, subtract all of you current scholarships, grants and any other resources you have to pay for college (e.g., earnings from work, savings, trust funds, etc.) from your anticipated expenses. If all the other forms of assistance you have do not cover all of your expenses, then you may want to consider borrowing a loan only for the amount still needed to cover your remaining costs.
Visit our Cost Estimator to help determine both your estimated expenses.
If you've decide you need a loan, always consider interest rates and repayment terms. Federal student loans are often the most attractive loan options.
Student Loans
A听student loan is a loan a student may borrow to assist in paying for his or her education-related expenses.
Parent Loans
A parent loan is a loan a student's parent may borrow to assist in paying for the student's education-related expenses.
