When you apply for financial aid, you may be offered loans as part of your financial aid offer. A loan is money you borrow and must pay back with interest.
If you decide to borrow a loan, make sure you understand who the lender is and the terms and conditions of the loan. Student loans can come from the federal government or from private sources such as a bank or financial institution. Loans made by the federal government, called federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources.
Learn more about the differences between federal and private student loans.
Types of Loans
View the links below for more detailed information about specific loans.