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Loans

A loan is money you can borrow to help pay for college. Unlike grants and scholarships, loans must be repaid. Therefore, borrow only what is needed, seek outside scholarships and save summer earnings to reduce indebtedness. Apply for all eligible federal, state and institutional funds before borrowing.

The following types of loans may be available to you and your family to assist in financing educational costs:

Student loans

Federal Direct Loans

Federal Perkins Loan

Alternative/Private Loans

Parent loans

PLUS Loans

Loan calculators

To estimate your monthly loan repayment, see the Federal Student Aid Repayment Estimator or Fin.Aid.org calculators

National Student Loan Data System

Information about a student's Federal Direct Loans will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guarantee agencies, lenders and schools determined to be authorized users of the data system. Students may also view their loan history by accessing www.nslds.ed.gov.

Information about a parent's Federal Direct PLUS Loan will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guarantee agencies, lenders and schools determined to be authorized users of the data system.

Consumer information on public service loan forgiveness

The Department of Education posted information to consumers regarding the Public Forgiveness Program. The DOE has provided both a fact sheet and a Q&A.

Public Service Loan Forgiveness Fact Sheet

Public Service Loan Forgiveness Q&As