Loan programs are a resource to assist with educational expenses. We strongly encourage you to borrow only what you need and to keep good records on loans that you borrow.
Federal Direct Loans
Federal Direct Loans are available to students who are U.S. citizens and permanent residents regardless of the demonstration of eligibility for need-based aid.
Federal Direct PLUS Loans
Federal Direct PLUS Loans are for parents of undergraduate students who are U.S. citizens and permanent residents, and are available regardless of whether the family demonstrates eligibility for need-based aid.
We strongly recommend that students take advantage of the Federal Direct Loan program before opting for private loans, which generally have higher interest rates and higher fees than federal loans.
Private loans are educational loans that are not based upon an assessment of financial need and that may be used to supplement any financial aid that you may be receiving. The maximum annual loan is the cost of attendance, as established by the Financial Aid Office, minus any financial aid that the student may receive.
These are credit-based loans and a poor credit history will prevent borrowing under these programs. Interest on these loans begins to accrue on the date of disbursement, and interest and principal payments begin after graduation, withdrawal from school, or enrollment at less than a half-time course load (1.75 units).
There are many different private loan products on the market. You may use any lender of your choice for a private loan. These loans are not inexpensive and borrowing under these programs is recommended only after other sources of financial assistance are exhausted.
For more information on private loans, contact the Financial Aid Office.