No-loan awards for family income of $75,000 or less

Students from families with income of $75,000 annually will have their full need met with grants, scholarships, and federal work study. No loans are included.

Federal Direct Student Loans

There are two main types of federal student loans

Federal Direct Subsidized Loans are available for students who have demonstrated financial need. This loan is more favorable than unsubsidized student loans, because the U.S. Department of Education pays the interest while the student is in school (or while the loan is in deferment) and for a six month grace period after graduation. The fixed interest rate and origination fee are set by the federal government each year.

Federal Direct Unsubsidized Loans are available to students regardless of need. Students are responsible for repaying interest that begins accruing as soon as the loan is taken out. Interest payments can be made while in school.

There are also specialized federal loans available:

PLUS Loans are loans that are not need-based for graduate or professional students and parents of dependent undergraduate students to help pay for expenses not covered by other aid.

Private Loans

Private loans are offered by private banks based on your credit score. These loans tend to have higher interest rates than government loans. We encourage our students to pursue all options for federal student aid before considering a private loan.