Types of loans offered at Clark College


Federal Direct Loan

Federal Direct loans are borrowed funds that you must repay with interest. A federal student loan allows students to borrow money to help pay for college through loan programs supported by the federal government. They have low interest rates and offer flexible repayment terms, benefits, and options. All students must first complete the Free Application for Federal Student Aid (FAFSA). If you are eligible for a loan, an offer will be included on your award letter.

 

Federal Plus Loan

Parents of dependent students may borrow money in their name to help meet the student's educational expenses. To be eligible for a Federal Plus Loan for Undergraduate Students, you must demonstrate that you have unmet financial need and that you do not have an adverse credit history.  

The maximum PLUS loan amount you can borrow is the cost of attendance minus any other financial assistance received, like scholarships or financial aid.   For more information on PLUS loan eligibility and borrowing limits, visit the Department of Education's PLUS Loan page.

 

Private Loan

Private Loans can have a much higher interest rate than Direct Loans. Contact your lender for more information.



Clark College Title IV Code of Conduct
  • The financial aid office at Clark College will process loans in a timely manner.
  • The financial aid office does not contract with any lender and does not receive any staffing assistance from lenders.
  • Students are advised to borrow loans through the Ford Direct Loan programs. Private loans will not be packaged or offered from any specific lender.
  • Employees in the financial aid office are prohibited from receiving gifts from lenders, guaranty agencies or loan servicers.
  • Clark College does not have revenue sharing arrangements with any lender. Advisory boards will not receive compensation from any lender.




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