The most common way students fund their college education is through loans. The types of loans fall into roughly four distinct categories, Stafford, Perkins, Plus Loans, and Private Student Loans.
1. Stafford Loans
Stafford Loans are the most common type of loan in which college students take out. The students are required to sign a promissory note. To be considered for a Stafford Loan students must fill out the FAFSA. More Stafford Loans
2. Perkins Loans
The Perkins Loan is designed to be given to students in great financial need. The Department of Education provides schools with a certain amount to be awarded each year. To be considered for the Perkins Loan, students must fill out the FAFSA. More Perkins Loans
3. PLUS Loans
The PLUS Loans are loans parents take out for their dependent undergraduate children and are made through either the Direct Loan, which are provided by the Department of Education or the FFEL program, which are provided by private providers such as Bank of America. These awards are available when more aid is needed. More PLUS Loans
All of the above loans require students to fill out the FAFSA.
4. Information on Repayment and Loan Consolidation
See information on Loan Repayment and Loan Consolidation.