Types of Aid
* Any loans disbursed on, or after July 1, 2017, interest rates for Direct Loans will be 4.45% and Parent Plus Loans will be 6.00%
Federal Pell Grant
- Does not have to be repaid
- Available almost exclusively to undergraduates
- Total amount may not exceed the equivalent of six years of Pell Grant funding
Learn more here
Federal Supplemental Educational Opportunity Grant (FSEOG)
- Does not have to be repaid
- For undergraduates with exceptional need
- Federal Pell Grant recipients take priority
- Funds depend on availability at school
- $100-$4,000
Learn more here.
Federal Work-Study
- Money earned while attending school
- Does not have to be repaid
- For undergraduates and graduate students
- Jobs can be on campus or off campus
- Students are paid at least federal minimum wage
- No annual minimum or maximum amounts
Learn more here
Direct Subsidized Loan
- Must be repaid with interest
- For undergraduates students
- U.S. Department of Education pays interest while borrower is in school and during grace and deferment periods (if you receive a Direct Subsidized Loan that is first disbursed between July 1, 2012 and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period)
- Student must be at least half-time
- Student must have financial need
- 4.45% rate
- $3,500-$4,500 depending on grade level
Learn more here
Direct Unsubsidized Loan
- Must be repaid with interest
- For undergraduate and graduate students
- Borrower is responsible for all interest
- Student must be at least half-time
- Financial need is not required
- 4.45 % rate
- $2,000 depending on grade level (more can be available with a written request)
Learn more here
Direct PLUS Loan
- Must be repaid with interest
- For parents of dependent undergraduate students and for graduate or professional students
- Must be enrolled at least half-time
- Financial need is not required
- Borrower is responsible for all interest
- 6.00% rate
- Maximum amount is cost of attendance minus any other financial aid student receives
- No minimum amount
Learn more here
Alternative/ Private Student Loans
- These loans are nonfederal loans, made by a lender such as a bank, credit union, or a state agency.
- The federal government does not fund alternative (or private) loans, which are credit-based loans approved based on the good credit history of the student and/or a co-signer.
- Because alternative loans are funded and administered by private lenders, each has its own unique terms and conditions. You must obtain details about specific loans from the lender.
For a list of private student loan lenders, click here.
Please be sure to research lenders and choose the one that best fits your situation.