Grants -Awarded to students with
greatest financial aid (need). Do not require repayment.
Loans--
Available to all students enrolled at least half-time. All
Loans must be repaid.
Perkins
Loans -- Loan awarded
on need. This loan has a 5% interest rate, not due until
after graduation.
Subsidized
Stafford Loan -- Loans
which do not accrue interest while student is enrolled at least
half-time.
Unsubsidized
Stafford Loan -- Loans
which are not need-based. These loans begin to accrue
interest as soon as the student receives the money. Students
can choose to pay the interest or allow it to accrue until repayment
after graduation.
Plus Loans-- (Parent
Loan for Undergraduate Student) Loans
taken by parents for their dependent student (child). Plus loans
are unsubsidized; they begin to accrue interest as soon as the
student receives the money.
