Q. Which loan should I borrow?
We always recommend you borrow the federal Stafford and Perkins loans first, Parent PLUS loans second and all other private/alternative loans as a last resort.

Q. How much can I borrow?
Stafford Loan borrowing limits are set by the federal government and are based upon a student's grade level. PLUS loan borrowers (parents) can apply for amounts up to the difference between the cost of attendance less all aid offered.

Q. Should I borrow a loan to cover my costs for the year or should I borrow separately each semester?
All borrowers should secure funds annually and not on a semester by semester basis. Borrowing annually minimizes application time, processing time and assures that funds will be available for both semesters. It also avoids multiple credit reports which can often have an adverse effect on your credit score.

Q. What are the interest rates and fees on loans?
Rates and fees vary between loan programs and all students and parents are encouraged to visit our Loans page for details.

Q. My parents were denied a PLUS loan. What are my options?
Students whose parents are denied a PLUS can borrow an additional Unsubsidized Stafford Loan based upon their grade level. Students will need to provide proof of a denial and should contact our office for details.

Q. I have a variety of loans and would like to lower my monthly payments. What are my options?
Students with multiple loans and a high monthly payment may want to consider loan consolidation as an option. Details can be found on our loan consolidation page.

Q. I have questions about loans and don't know who to contact.
Don't ever be afraid to call, e-mail, write or simply drop in to see us in the Office of Financial Aid. We're here to help!

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