Students
Have you been accepted to a university and are looking for a federal Stafford, PLUS or MBA loan? Student Aid Lending can work with you fund your education and manage your loans after graduation.
Applying For A Loan
Stafford | Plus | Graduate PLUS | Private Loans
Managing Debt
Loan Forgiveness Programs
Federal Consolidation Loan Program
Applying For A Loan
If your financial aid package includes loans, it's best to understand what types are available and what loans may be better for your situation.
Step 1
Once you've completed your FAFSA and your aid package has been determined, you will receive an awards letter. This letter outlines exactly what your options are, how much of each loan type is available to you, and what you will be expected to contribute out of pocket.
Step 2
At this point, although you have been approved for federal aid, you must complete an Application & Master Promissory Note for each loan type. This can be done through your school or with your lender of choice by:
- Printing and mailing in your application.
- On the web by applying online. Once complete, we will guide you through creating an online account and signing electronically.
Loan Options
Subsidized Loans
Perkins
Stafford
Graduate School
Parent PLUS
Private Loans
Subsidized Loans
Some federal loans come with an interest subsidy, such as the government issued Stafford Loan. This means that during times of grace & deferment, the interest will not accumulate or capitalize on your loans. Instead, each period the interest rate will be paid for you by the federal government. Subsidized loans are typically awarded to students that demonstrate a greater financial need. Unsubsidized loans are typically defined as loans compound interest, and can mean the difference in repaying thousands more on your original loan amount. Depending on qualifications, subsidized loans are available up to $5,500 for undergraduates and $8,500 for graduate and professional students.
Perkins Loans
Perkins Loans are typically awarded and administered by your school, Perkins Loans carry a few distinct benefits:
- 9 month grace period
- Fixed rate of interest at 5%
- Forgiveness programs available for certain qualifying teachers.
If a Perkins Loan is offered in your awards package, this is typically the first loan for you to use. The benefits of a longer grace period (3 months more than Stafford) and a lower fixed rate make it a very attractive loan. However, when selecting a loan, always weigh the benefits as you may pay more in overall interest with an unsubsidized Perkins Loan than you would with a subsidized Stafford Loan.
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