If you apply for financial aid by filing the FAFSA, you may be offered loans as part of your financial aid award offer. A loan is money you borrow and must pay back with interest. Some loans are need-based; others are available to any enrolled student.  

Borrowing can be costly. We recommend you consider borrowing only if you have exhausted all other options and only borrow what you need. Make a budget for yourself to keep your debt within manageable limits.

All federal loans (Direct Subsidized and Unsubsidized, Parent Loans for Undergraduate Students, Graduate Student PLUS and Perkins) students receive are reported on the National Student Loan Data System. The information is accessible to guaranty agencies, lenders and authorized users at schools. Students can access their information using their Federal Student Aid ID through studentaid.gov.