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 financial aid application process. If you are eligible for a loan, an offer will be included on your award letter.
Federal Plus Loan
If you are a parent of a dependent student, you 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 Loans can have a much higher interest rate than Direct Loans. Contact your lender for more
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 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 lenders. Advisory boards will not receive compensation from any lenders.
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