Sources of Loans

Federal Direct Loans are made available to university students to help pay for the cost of education. Federal Direct Loans are offered to graduate and undergraduate students at a fixed low interest rate. Students must be enrolled at least half time to be eligible. Students are eligible to receive Direct Loans regardless of credit history. Direct Loans may be subsidized by the US government or unsubsidized depending on the student's financial need. Repayment begins 6 months after the student leaves school or falls below half-time status.

For the 2016–2017 academic year, subsidized and unsubsidized Direct Loans for undergraduate students are offered at a fixed 4.29% interest rate. 

The loan fee for Direct Subsidized Loans and for Direct Unsubsidized Loans is 1.068%. 

Federal Parent PLUS (Parent Loan for Undergraduate Students) Loans are available to parents of undergraduate dependent students to help pay for the cost of education. Federal PLUS Loans are funded by the US Treasury. Parents may borrow up to the cost of education minus other financial aid. The federal government sets the interest rate, limits fees and sets minimum deferment options for federal PLUS Loans. PLUS is offered at a fixed 6.84% interest rate. Parents may apply for a PLUS Loan by going to

Please note: To apply online you must have your parent assigned FSA ID (the one you used to electronically sign the FAFSA). After you have completed your PLUS application and credit-check make sure you continue the process on the website to take the final step of completing your Direct Parent PLUS Loan Master Promissory Note (MPN).

If you encounter any problems completing the above requirements on the website, feel free to contact Applicant Services at the Department of Education at (800) 557-7394 for general website support and assistance in completing your PLUS application.

The loan fee for Direct Parent PLUS Loan is 4.272%.

Private or alternative loans are available when federal loans and other aid do not cover your cost of education. Private educational loan programs vary by lender. Please contact specific lenders to find out about terms and conditions that may apply. Click on the link to view a list of lenders.