School Loans Overview

For more than ten years, Student Loan Network has helped undergraduate and graduate students and their families access federal and alternative school loans, free scholarships and student loan consolidation. The information below should provide a helpful guide to better understand school loans and financial aid.

Federal School Loans

Federal Stafford school loans are federal student loans for undergraduate and graduate students and are used to supplement personal and family finances, scholarships, grants, and work-study. They may be subsidized by the U.S. Government or may be unsubsidized depending on the student's financial need.

Stafford Loans can be used to pay for tuition, housing, books and more. Stafford loans have a number of great benefits all designed to help make paying for college more affordable.

Click Here to Apply for the Stafford Loan

The Federal PLUS Loan is a school loan borrowed by a parent on behalf of a child to help pay for tuition and school related expenses at an eligible college or university, or by a graduate student for graduate school. The student must be enrolled at least half time, and the parent or graduate student must pass a credit check in order to receive this loan. It is important to file for the Stafford Loan first, then the PLUS loan. You can learn more about Parent PLUS Loans and apply online in our PLUS Loan section.

Graduate Students are eligible for the Graduate PLUS Loan. Visit GradLoans.com to learn more about this federal student loan program for graduate students.

Apply for the Parent PLUS Loan

Private School Loans

Private student loans are a handy form of financial aid that can be used to cover expenses not met by federal financial aid. In addition to tuition and room and board, private school loans can be used to cover virtually any school related expense:

• Transportation and housing expenses
• Books, supplies, Lab fees and computers

Private loans give you the flexibility to apply whenever the need arises during your time as a student. While federal loans may not disburse until a month into the semester, these private loans can fund in a much shorter time period.

Apply for an Alternative Student Loan

Other School Loan and Financial Aid Resources

Ensure that you have completed the appropriate FAFSA application. For free application advice and submission instruction, please visit FAFSA online - your guide to the Free Application for Federal Student Aid. Financial Aid Forms are required for all federal student aid.

Always start with the Stafford Loan as it typically offers the best rates and repayment options. Should you need additional funds to pay for college, additional options are a Private Student Loan and a PLUS Loan for Parents.

In addition to school loans, students should always maximize their scholarship opportunities. New scholarships are posted daily at Student Scholarship Search. This free service includes all the details you need to apply; including eligibility requirements, deadlines, amounts, and contact information. ScholarshipPoints is a monthly drawing where students have the chance to win free scholarships from $1,000 - $10,000. You earn multiple chances for the drawing by performing simple tasks such as registering, taking surveys, and blogging.

A Federal Perkins Loan is a low-interest (5%) loan for both undergraduate students and graduate students with exceptional financial need. Your school determines the level of need and will also be the lender of the loan. The Perkins loan is made primarily with government funds and a contribution from your school. You repay this loan to your school.

Undergraduate students can borrow up to $4,000 for each year of undergraduate study (the total amount you can borrow as an undergraduate is $20,000). Graduate students can borrow up to $6,000 for each year of graduate or professional study (the total amount you can borrow as a graduate/ professional student is $40,000, including any Federal Perkins Loans you borrowed as an undergraduate).