Sometimes grants, scholarships, student employment, and other types of aids just aren’t enough to cover expenses. In this case, you can look to loans to bridge the gap. Unlike other forms of aid, loans do need to be repaid. Smart students only borrow as much as they absolutely need.
The Federal Direct Subsidized / Unsubsidized Student Loan program is the most widely used student loan program.
Borrowing limits, interest rates, and terms of repayment are defined by the U.S. Department of Education.
The Federal Direct Parent Loan (PLUS) is for credit-worthy parents of a dependent undergraduate student.