Low-cost loans
Educational loans
A loan is a form of financial aid that must be repaid, with interest. Few students can afford to pay for college without some form of education financing. Many students find that they must supplement their savings with loans.
Loan Types
- Stafford Loans - Federal Stafford Loan is a long term loan with a fixed interest rate of 6.8 percent. The interest on these loans can be subsidized (interest paid by the Federal Government) or unsubisidized.
- Perkins Loans - A Federal Perkins Loan is a low-interest loan for students with financial need. The loan is made with government funds with a share contributed by PLU. You must repay this loan to PLU.
- PLUS Loans (Loans to Parents) - A Federal Loan that parents take out for the student. Unlike the Stafford loans, the responsibility belongs to the parents. The PLUS loan helps parents pay for their son's or daughter's education over an extended period of time with a low-interest loan.
- Graduate PLUS Loans (For graduate students only) – A Federal loan that allows credit-worthy graduate students to borrow the cost of their education not covered by other forms of financial aid. Repayment on this loan is deferred while the student is enrolled at least half time and has a fixed interest rate of 8.5%.
- Alternative Loans - Also known as private loans, help bridge the gap between the actual cost of your education and the limited amount the government allows you to borrow in its programs. Private loans are offered by private lenders and there are no federal forms to complete.
- Nursing Loans - If you're a student enrolled in the school of nursing, then you maybe eligible for a Federal Nursing Loan.
Preferred Lenders
Please note that when choosing a lender for your loans, we have a list of lenders we recommend that you choose from. We have worked with these lenders and find that they not only do their absolute best to help our students, they also take part in electronic loan money transfer.
