Loans and Work Study

Federal Direct Student Loan Program

The William D. Ford Federal Direct Student Loan Program provides low-interest long-term loans to matriculated students enrolled at least half-time for education expenses. Students must complete the FAFSA application at FAFSA.gov. The lender of these loans is the federal government and repayment is to the U.S. Department of Education. Learn more about the Federal Direct Student Loan Program, including how to apply, amounts, fees, and interest rates.

Federal Direct Parent PLUS Loans

The William D. Ford Federal Direct Parent PLUS Loan Program is available to the parents of a dependent student who is enrolled at least half-time in a degree program. The student must complete the FAFSA application at FAFSA.gov. The parent that has a legacy provision may borrow up to the student’s cost of attendance, minus other financial aid. For new parent borrowers after July 1, 2026, all parents (combined) may borrow up to $20,000 per year per dependent student and a $65,000 aggregate limit per dependent student. Learn more about the Federal Direct Parent PLUS Loan, including how to apply, amounts, fees, and interest rates.

Private Loan Programs

Private loans are available to students and parents to borrow from a private lender. Borrowers who have not established a credit history will be asked to apply with a co-signer. Interest accrues while the student is in school. Payments on the loan may be deferred until the student ceases part-time enrollment. The annual loan limits are the cost of attendance minus other financial aid. The terms and conditions of the loan (including interest rate and fees) will be determined by the lender. Private loan applications are completed directly with the lender of the borrower’s choosing.

Federal College Work-Study Program (FWS)

The Federal College Work-Study Program provides on-campus jobs for students with financial need. Positions are posted on the University’s Handshake website and are available on a first-come, first-served basis. It is the student’s responsibility to find an employment position. Students must complete the FAFSA application at FAFSA.gov. Students earn at least the current federal minimum wage, but the amount might be higher depending on the type of work and skills required. Students are paid every two weeks for hours worked. Because they receive direct payment, FWS wages are not credited to a student’s semester bill.