A loan is a form of financial aid that needs to be repaid. There are several types of loans with different terms, conditions, and interest rates.
All Federal Direct Loan information is submitted to the National Student Loan Data System (NSLDS). It is accessible by the guarantor agencies, lenders, and institutions that are determined to be authorized users of the NSLDS. Students may sign into studentaid.gov to see their loan information.
Not sure where to start? Read more to find out about the different types of federal loans and the differences between them.
If students have exhausted all federal, state, and institutional forms of financial aid eligibility, but are still in need of additional financial resources to help meet their educational costs, then a private loan may represent a viable option.