Types of Aid

Federal Family Education Loans (FFELP)

Student loans at no or low interest rates are available to students. Parents of dependent students may also qualify for educational loans. Although loan funds are provided by private lending institutions, the loan programs were established and are regulated by the federal government. Funds borrowed through student or parent loan programs must be repaid.

The two types of federal loans are:

• Federal Stafford Loan
• Parent Loan for Undergraduate Students (PLUS)

All loans (Stafford & PLUS) must be dispersed in two payments, one at the beginning of the loan period, and the other at the midpoint of the loan-period. For example, a loan made only for the Fall semester will be disbursed in two payments: one disbursement at the start of the semester and a second disbursement after mid-semester.

NOTE

First-time student loan borrowers must be enrolled for 30 days before the first loan disbursement can be released. Loans for students who drop below half-time enrollment will be canceled.