Student Loan Information

The Federal Stafford Loan is a low cost education loan sponsored by the Federal government and is available to students as financial aid in attending college. No credit check is required, and it's easy to apply.

There are two types of Stafford Loans:

• Subsidized: A Subsidized Stafford Loan is based on needs and awarded as financial aid by your school or college. The government pays the interest while the borrower is in school and during the six month grace period.
• Unsubsidized: An Unsubsidized Subsidized Stafford Loan is available to all students, regardless of financial need. The borrower is responsible for the interest, not the government.

Students can receive a subsidized loan and an unsubsidized loan for the same enrollment period.

PLUS Loans For Parents

PLUS Loans are student loans your parents can take out to pay for your education expenses if you’re a dependent undergraduate student enrolled at least half time.

The Federal Pell Grant

A Federal Pell Grant is a grant, not a loan, which means the Federal Pell Grant does not have to be repaid. Usually, The Federal Pell Grant is awarded only to undergraduate students who have not yet obtained a bachelor's or professional degree. (A professional degree is typically obtained after a bachelor's degree in a field such as medicine, law, or dentistry.) In some cases, you might receive a Pell Grant for attending a post-baccalaureate teacher certificate program.

Pell Grants are usually a foundation of financial aid, to which aid from other federal and nonfederal sources might be added.

Federal Perkins Loan

A Federal Perkins Loan is money for college with a low interest loan (five percent) for both undergraduate and graduate students with financial need. You apply through your school or college which is also your lender. The loan is made with government funds with a share contributed by the school. You must repay this loan to your school or college.