Loan Programs
A college loan program allows you to borrow money to pay for your education, covering expenses like tuition and books. Unlike scholarships and grants, loan programs are not free money. You are required to pay the money back, along with interest, once you finish school - or sometimes while you are still enrolled. While loans make college more affordable in the short term, it is important to consider how much you borrow and how you will repay it later.
Federal Loans
You can find information about the United States government's current loan programs below. This is just an overview, and details may change if government regulations are updated. For more complete information about all federal programs, visit the Federal Student Aid website. To qualify for these loans, you need to have completed the FAFSA.
Subsidized loans are available to you if you are an undergraduate student with financial need. This need is based on Stetson University's cost of attendance, minus what your family is expected to contribute and any other financial aid you might receive, like grants or scholarships. The great thing about subsidized loans is that they do not charge you interest while you’re in school at least half-time or during any deferment periods.
Unsubsidized Loans are available to you as either an undergraduate or graduate student, and they are not based on financial need. Your eligibility depends on your total cost of attendance, minus any other financial aid you receive - like grants or scholarships. Interest starts adding up from the moment the loan is given to you, and it keeps building during the time you're in school, any deferment periods, and your grace period. Unlike subsidized loans, you're responsible for paying all the interest, starting from when you get the loan until you fully pay it off.
If you are a parent of a dependent student, you can apply for a Parent PLUS Loan to help cover the cost of your child's education. This loan lets you borrow the amount needed for their education, after subtracting any other financial aid they receive, as long as they’re enrolled at least half-time. Even if you think you might not qualify for the Parent PLUS Loan because of bad credit, it's still a good idea to apply. If you are denied, your child can get more money through an additional unsubsidized loan.
* Parent(s) may apply for this loan at studentaid.gov after May 1 for the upcoming academic year.
The Graduate PLUS Loan is a student loan from the US Department of Education that helps graduate and professional students pay for their education.
Private Loans
Compare private loans for your school and degree. Look for loan rates and terms that fit your needs. This service offers you the most lender options for free, and you don’t need to register to use it.
Cohort Default Rate (CDR)
To view our current student loan Cohort Default Rate (CDR) visit NSLDS, be sure to use school code 001531.