Skip to Main Content

Loan Programs

Student loans, unlike grants and student employment, are borrowed money that must be repaid, with interest. When you apply for financial aid, your aid package will likely include student loans. It’s important to understand what types of loans you are offered. Generally, there are two types of student loans:

  • Federal student loans - These loans are funded by the federal government
  • Private student loans - These loans are non-federal loans, made by a lender such as a bank or credit union

Borrowing loans is a huge responsibility, it is important you understand the responsibilities and obligations as a student loan borrower. The more informed you are now, the more prepared you will be in the future.

Federal Student Loan Options

Find In SiS:

Alternative (private) Loans

Alternative or private loans are generally issued by a bank or other lending institutions. If you need to borrow money to pay for college start with federal student loans. Students considering educational private loans should apply only after they have applied for financial aid.