Costs & Financial Aid | Loans

Loan Options

Federal Direct Loans
Repayment for Direct loans begins six months after graduation or six months after you drop to less than half-time status as a student.

Subsidized
You are eligible for this loan if you demonstrate financial need. The federal government pays the interest on the loan while you are in school at least half-time and during the six-month grace period.

Unsubsidized
You can receive this loan if you do not demonstrate financial need, or you can use it to supplement a subsidized loan. The federal government does not pay the interest on this loan.

You are responsible for the accrued interest from loan disbursement until full repayment. You can, however, defer the interest on your loan until repayment begins. This way the loan accrues interest while you are in school and the interest is added to the principal loan amount.

Federal Perkins Loan
You can access this long-term loan program with five percent fixed interest based on your financial need. You have a nine-month grace period before having to repay the principal and interest. The grace period begins once you graduate, drop below half-time or leave school. The Financial Aid Office processes Perkins loans.