Loans for College

Students and parents have several options for borrowing money to help to pay for college. 

1.  Federal Perkins Loans

- only if offered to you in your Financial Aid Award Letter (funds are limited and go to the neediest students)

2.  Federal Direct Stafford Student Loans

- always your first option to pursue since they offer the best loan terms

- you must file the Free Application for Federal Student Aid (FAFSA) - see Applying for Aid

3.  Federal Parent Loans for Undergraduate Students

- a loan to assist parents in covering costs beyond any student financial aid

- the FAFSA is also required for this loan

4.  Alternative Student Loans - education loans loans from private lenders

- Many banks and lenders offer education loans; terms and conditions vary

For more information:  

• Starting the Application Process
• StudentLoans.gov - for Entrance Counseling, completing Direct Loan promissory notes, and for general information on the federal loan programs