UND Fastchoice - Loans
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Financing a college education is a concern for many families. Most financial aid packages will include student loans; however, federal subsidized and unsubsidized loans may not cover the total cost of college expenses.
Private student loans are non-federal, interest-bearing loans through private lenders. Approval is not guaranteed and the student may need a co-signer with good credit to apply.
Direct Loans are low-interest loans for students and parents to help pay for the cost of a student’s education after high school. The lender is the U.S. Department of Education (the Department) rather than a bank or other financial institution.
Alternative and private loans are loans to help pay for your education and are intended to be used only after all eligibility for Federal Direct and PLUS loans has been exhausted. Minnesota State Community and Technical College does not endorse any one particular lender. We do provide the service of FASTChoice to assist with education and comparison of lender loan options such as interest ...
There are four basic types of financial aid; scholarships, grants, loan and Federal Work Study. Also on this page you will find information on our campus-based financial aid programs.
Subsidized Federal Direct Loan. Loans disbursed after July 1, 2017, the interest accrues at a fixed 4.45%. For loans disbursed after July 1, 2018, the interest accrues at a fixed 5.05%.
Federal Parent Loans. The Federal PLUS Loan (also known as the William D. Ford Direct PLUS Loan) may be available to parents of dependent students as part of the student’s financial aid award offer. The lender is the U.S. Department of Education rather than a bank or other financial institution.
Loans Federal Direct Stafford Loan After receiving an official award letter from DCTC, you may apply online for a Federal Stafford Student Loan.
A student loan is a loan a student may borrow to assist in paying for his or her educationally-related expenses. Student loans must be repaid by the student borrower. On this page:
Choosing the correct loan. Your initial financial aid award package may be insufficient to cover all your academic year charges. If this proves to be true after performing an academic year budget analysis you may consider applying for additional credit based loans. There are two categories of credit based loans that students and their supporting individuals may consider.