Parents of dependent students are eligible to apply for their own federal loan to help pay college expenses. We do not assume parents want to borrow to pay educational expenses. If you and your parents are interested in this program you should contact the campus financial aid office at your school. A parent may borrow the difference between the Cost of Attendance and all other student aid received by the student. For additional information visit https://studentaid.gov.

If you’re attending school at least half-time, you have a period of time after you graduate, leave school, or drop below half-time status before you must begin repayment. This period of time is called a “grace-period”.

Federal Perkins Loans- the grace period is nine months. If you’re attending less than half-time, check with your financial aid office to determine your grace period.

Direct Stafford Loans– the grace period is six months.

Subsidized loan– during the grace period, you don’t have to pay any principal and you won’t be charged interest.

Unsubsidized loan– you don’t have to pay any principal, but you will be charged interest. You can either pay interest as you go along or it will be capitalized later.