Federal Student Loans
When free aid isn’t enough to pay for college, it’s time to take advantage of the Federal Student Loan Program.
Student loans are low-interest, federally guaranteed loans, most of which don’t have to be repaid until after graduation. The amount and type of student loans for which you’re eligible will be outlined in your Student Aid Report — the form that’s generated by the Department of Education in response to your Free Application for Federal Student Aid (FAFSA) — and could include:
Federal Stafford Student Loans
Federal Stafford student loan are taken out in the student’s name with no collateral, no credit checks, and no co-signers required.
Federal PLUS Parent Loans
If student loan aid doesn’t fill the gap, your parents could be eligible for a Federal Parent Loan for Undergraduate Students (PLUS). Under this program, creditworthy parents can borrow up to 100% of the total cost of a college education for dependent children, less other financial aid awarded.
Private Student Loans
When Federal student loans are not enough, unsecured, credit-based private student loans may be available to undergraduate, graduate, and continuing education students. If you don’t qualify for a private student loan on your own, your parent or guardian may be able to co-sign for you.