Types of Financial Aid

Student Loans

Student loans are debt obligations that must be repaid and should only be considered after reviewing all other sources of financial aid. The most common types of loans are federally guaranteed loans and private loans. The federal program is the William D. Ford Federal Direct Loan Program, which consists of Direct Stafford loans (subsidized and unsubsidized), Direct PLUS loans, and Direct Grad PLUS loans. After students have exhausted the use of grants, scholarships, and federal loans, there may still be an unmet need which can be covered with a private student loan.