Direct Subsidized Loan
This loan is available on the basis of financial need. Interest does not accrue while in-school or during deferment periods. The U.S. Department of Education pays the interest on a Direct Subsidized Loan while enrolled in school at least half-time, during the grace period of 6 months after student ceases to attend at least half-time enrollment, and during periods of deferment. Repayment begins six months after graduation or after the last date of attendance, whichever comes first. Information on annual loan amounts, aggregate loan amounts and current interest rates can be found at https://studentaid.gov
Direct Unsubsidized Loan
This loan is not awarded on the basis of need. Interest accrues from the time the loan is disbursed until it is paid in full. Information on annual loan amounts, aggregate loan amounts and current interest rates can be found at https://studentaid.gov
Direct Parent Loan for Undergraduate Students (PLUS)
This is a credit-based loan program that enables parents to borrow funds to pay for educational expenses if the student is a dependent undergraduate enrolled at least half time. However, if the parent is denied, the student may qualify for an additional $4,000 in Direct Unsubsidized Loans for the academic year. Interest rates are fixed and established annually by the U.S. Department of Education. Current interest rates can be found at https://studentaid.gov. Repayment begins immediately after the loan is fully disbursed.