Loans
{{youtube:small:right|mTHtn0FRMWw,Responsible Borrowing}}Loans are funds that must be repaid by the student or, in the case of the Direct Parent PLUS Loan, by the parent. The interest accrued and the repayment schedule depends upon the type of loan. There are various types of education loans that can assist students and parents in paying for a college education.
Types of Loans
Direct Subsidized and Unsubsidized Loans
Direct Subsidized Loans are available to undergraduate students with financial need. Direct Unsubsidized Loans have no requirement to demonstrate financial need.
PLUS Loans
Eligible parents and graduate or professional students can apply for a federal Parent PLUS Loan (for undergraduates) or Grad PLUS Loan.
Private Loans
Many lending institutions offer private loans that are credit-based and should only be considered after exhausting all federal loan options.