If you apply for federal financial aid through the Free Application for Federal Student Aid (FAFSA), you may be offered loans as part of your financial aid package. A loan is money you can borrow, but must pay back.

We are committed to helping you make smart choices - borrowing a student loan is a BIG commitment and should be considered carefully.

Before you borrow, be sure to:

  • Apply for all grant and scholarship opportunities.
  • Understand your tuition and fee charges, the full cost of your education including housing books, tools and personal needs. 
  • Consider borrowing only when absolutely necessary. Avoid borrowing if possible.
  • Protect your financial future. Borrow only what you need by reducing the amount of the loan offered.
  • Stay in contact with your Loan Servicer . Select a smart loan Repayment Plan . If you have trouble making your loan payments after you graduate contact your Loan Servicer for assistance.

Important points to remember

  • Student loans can come from the federal government or from private sources such as a bank or financial institution. Make sure you understand who is making the loan, the terms and conditions of the loan.
  • Student loans are legal obligations. It is borrowed money that must be repaid, plus interest over time.
  • Student loans cannot be cancelled because you didn't get - or didn't like - the education you paid for with the loans, didn't get a job in your field of study, or are having financial difficulty.

Types of Loans

The U.S. Department of Education offers Subsidized and Unsubsidized Direct Loans. To borrow from one or both of these programs depends on the student need, based on the information provided on the FAFSA. Federal Direct Student Loans do not require a credit check and have reasonably low interest rates.

John E. Christofferson
Multi-Purpose Building

Room 353
Phone: (208) 524-3000
Fax: (208) 525-7026