Which Loan Should I Consider?

If I need to take out loans, how do I know which loans are best?

The Federal Government has provided loans to assist families in paying for college. If a student or family needs to borrow money to attend college, we recommend you use the available Federal Loans. The Federal Loans you are eligible for are listed on your Financial Aid Award letter.

Why Federal Loans First?

What About Home Equity?

Home equity can be a very good option for some families.  You should contact your local bank or credit union to see if it is a good option for you.

Are there loans parents can apply for?

Yes. In addition to student loans, the Federal Government has provided the Parent Loan for Undergraduate Students (PLUS) We do not include the Parent Loan (PLUS) in your awards, but we do tell parents what their eligibility would be if they decide to apply. They can find their maximum Parent Loan (PLUS) eligibility on the Financial Aid Award letter.

Are there other loans students can borrow?

There are other non-government loans students can apply for.  For many reasons, if families need to borrow, we encourage families to consider the Federal Direct Stafford Loans and the Parent Loans (PLUS). If you do have questions about these other loans, contact the Financial Aid Office.