A loan is money that you borrow that must be paid back with interest. Interest rates and repayment terms vary.

Interest is the cost of borrowing money. Each loan that you receive over the course of your education may have a different interest rate depending upon when the loan is disbursed. You can find the interest rates by logging into the Federal Student Loan website. 

As the student, you will be signing the promissory notes for any loans that you receive to finance your education. No matter how much your parents may want to assist you, you--not your parents--will be legally responsible for the loans.

Click Student Loan to watch a video outlining the federal student loan basics.

Federal Student Loans

If you apply for financial aid by filing the FAFSA, you may be offered loans as part of your financial aid award letter. Student Financial Services manages the federal student loan process.

You can access the Student Financial Services website for detailed information regarding Undergraduate Loans, Graduate Loans and Private Alternative Loans.

Loan Exit Counseling

Students are required to complete a loan exit interview before graduating. Access the Loan Exit Interview. Once logged in, select loan exit counseling and follow the instructions.