Research shows that a university education increases an individual's earnings throughout his/her lifetime. Educational loans are a tool you can use to invest in your development and your future. The William D. Ford Direct Loan Program (DLP) ensures that students and parents have sound options for borrowing. The DLP offers students access to higher education through two types of federal loans: Stafford loan and the Graduate Plus loan. Each of these options offer students low interest rates, simple applications and in-school deferment.

The Federal Stafford Loan - Federal Stafford loans are fixed-rate federal student loans for undergraduate and graduate students attending college at least half-time. Stafford loans are the most common and one of the lowest-cost ways to pay for school.

The Graduate PLUS Loan - The Graduate PLUS loan helps graduate and professional students with good credit borrow up to the cost of attendance. The Graduate PLUS loan funds can be used for tuition, supplies, housing and more.

Private Alternative Loans - Private Alternative loans help students fill the gap between limited Federal aid and the cost of education. These loans are through private lenders and require the student and co-signer to be credit worthy and some may require interest only payments during school. Interest rates are variable and borrower benefits vary by lender. Students are encouraged to research their alternative options carefully and utilize this aid only after all Federal aid is exhausted.

Next Steps

At http://vision.oru.edu, you can review the loan assistance offered to you and accept or reject each loan offer. You may choose to accept the entire loan or only a partial amount. For each loan you choose to accept, you will need to complete an application and other forms, as applicable. Please note that Private Alternative Loans will not be awarded until we receive a credit approval from your lender.

Web Resources:

www.studentaid.ed.gov
www.mappingyourfuture.org/paying/financialaid.htm
www.tgslc.org/borrowers/loans/index.cfm
www.collegeanswer.com
www.finaid.org/loans/studentloan.phtml