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For some families, you'll find that the bulk of your financial aid turns out to be loans. Loans offered through the government or the college can be at a much lower interest rate and not make you pay back on them until after college. Do not complete a loan application until you find out that you really need one. Contact the financial aid office at the college where you intend to enroll for more information on loans and to get the proper application. On the FAFSA form you may fill in the 'Yes' oval for the question asking if you want to consider loans in order to simply get a loan application sent to you.

Loan Limits: You have a limit to how much you can borrow in Federal PLUS and Federal Stafford (Subsidized & Unsubsidized) Loans. Go to Higher Education Services' loan information area to learn more.

Loan Program	Who pays it back?	Interest Rate	Origination Fees	Repayment Terms	Stafford Loan Details
					Scroll through for Loan Overview Information If you have already looked into scholarships and grants and are eligible for a Stafford loan, then you should definitely use this loan program. The interest rates and benefits are better than with any other loan program. It also offers no required payments while in school at least half-time, six-month grace period and no prepayment penalty. Loan Limits Dependent undergraduate students $3,500 - $5,500/year. Independent undergraduate students $7,500 - $10,500/year. Graduate/professional students $8,500 - $20,500/year. AES Benefits Receive a .25% interest rate reduction for automatic direct debit payment with participating lender. Eligibility Submit a FAFSA Attend a school that participates in the Federal Family Education Loan Program. Be enrolled or plan to enroll at least half-time in an undergraduate or graduate degree or certificate program.
Stafford	Student	Fixed interest rate of 6.80%	0% - 1.5% depending on the lender	10 years
KeystoneBEST Stafford	Student	As low as 6.55% fixed	0% - 1%	10 years
aesBEST Stafford	Student	As low as 6.55% fixed	0% - 1%	10 years
Parent PLUS	Parent	As low as 8.25% fixed	3%	10 years
KeystonePLUS for Parents	Parent	As low as 8.25% fixed	3%	10 years
Graduate PLUS	Student	As low as 8.25% fixed	3%	10 years
KeystonePLUS for Graduates	Student	As low as 8.25% fixed	3%	10 years
Alternative Loan	Varies by loan	Varies by loan	Varies by loan	Varies by loan

***IF you MUST get a private educational loan - shop around and check with several lenders to see which is best for you.
Check the www.pelalenders.org (PA Education Lenders Association) section on Alternative loans for a list of lenders to start your search.

Sallie Mae the nation's leader in education finance, can help you find just the right combination of student loans to meet your education financing needs.

CampusDoor.com Undergraduate and Graduate Loans of $500-$3,000 with a Prime +1% Interest Rate and a 12 month Grace Period.

Private Education Loans, also known as Alternative Education Loans, help bridge the gap between the actual cost of your education and the limited amount the government allows you to borrow in its programs. Private loans are offered by private lenders and there are no federal forms to complete. Eligibility for private student loans, like a home or auto loan, often depends on your credit score or creditworthiness. Some families turn to private education loans when the federal loans don't provide enough money or when they need more flexible repayment options. For example, a parent might want to defer repayment until the student graduates, an option that is not available from the government parent loan program

Students should ask the following questions when shopping for an Alternative loan:

After answering these questions students need to determine what terns are most important to them. Answering these questions will help students compare different Alternation Loans and make an informed decision when choosing an Alternative Loan

What is the difference between SUBSIDIZED and UNSUBSIDIZED loans?
Subsidized Loans - The government pays the interest on the loan while your child attends school.
Unsubsidized Loans - You/your child pays the interest on the loan while attending school.

What do I do if I'm turned down for a PLUS loan (Parent Loan for Undergraduate Students)?
If you are a parent who applied for this loan and got turned down, your child will be eligible for up to $4000 more loan money but it will be unsubsidized.

YouCanDealWithIt.com allows student loan borrowers to calculate their savings if they make interest payments on their unsubsidized Federal Stafford Loan while still in school. For borrowers with unsubsidized loans, interest begins accruing on the loan at the time of disbursement (when it's paid to the college). The borrower is responsible for repaying all interest, although the payments may be deferred until after graduation or any other reason the borrower/student stops going to college.

You Can Deal With It's Interest Savings Calculator allows the borrower of the unsubsidized loan to enter the amount borrowed for each semester of their education and their loan interest rate. Calculations, based on the average 10-year or 120-month repayment schedule, determine the total value of the loan and the amount of unpaid interest. From this the calculator determines the borrower's monthly payments (after graduation/stopping college) and total interest paid in the scenario in which the borrower paid interest on his/her loan while in school. The calculator also computes monthly payments and total interest paid if the borrower chooses to defer payment on interest until after graduation or stopping college.

YouCanDealWithIt.com also assists recent and soon-to-be college graduates with life after college, providing resume tips, information on getting a job, finding an apartment, buying a car, budgeting, debt management and more.