If you decide to take out a loan, make sure you understand who is making the loan and the terms and conditions of the loan. Student loans can come from the federal government through filing the FAFSA or from private sources such as a bank or financial institution. Loans made by the federal government, called Federal Direct Student Loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources.  The Student Financial Aid Office encourages families to fully explore federal student and parent loan options before turning to private student loans.

All types of Loans must be repaid. Repayment begins after you graduate, withdraw from college or drop below half-time enrollment status (less than 6 credit hours per semester for undergraduates and less than 4 credit hours per semester for graduates).

Student and Parent Loan Information