Federal Direct Subsidized Student Loan – Direct Subsidized Loans are for students who have financial needs. With a subsidized Stafford Loan, the federal government will pay the interest while you’re enrolled at least half-time, during your grace period, and during deferment periods. The amount of a subsidized loan cannot exceed a student’s financial need. This loan is subject to verified financial need and not exceed educational costs. Repayment begins six months after you graduate, leave school, or drop below half-time enrollment, with a fixed interest rate determined by the US Department of Education
Federal Direct Unsubsidized Student Loan – Direct Unsubsidized loans do not require students to have financial needs. With an Unsubsidized Loan, you are responsible for paying the interest during all periods, starting from the date the loan is first disbursed. Information regarding repayment can be obtained from the Financial Aid Office. Repayment begins six months after you graduate, leave school, or drop below half-time enrollment, with a fixed interest rate determined by the US Department of Education
Federal Direct Parent Loans for Undergraduate Students – Parents of dependent students can borrow from the PLUS loan program. They require that the applicant not have an adverse credit history and have a fixed interest rate determined by the US Department of Education. Repayment begins on the date the loan is fully disbursed. If a parent is borrowing on behalf of a dependent undergraduate student, the student and parent must meet the general eligibility requirements for federal student aid.