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Loans
Student loans can fill the gap between the cost of attendance at AU and the amount of federal, state, and institutional aid received through scholarships and grants. Before you borrow, however, keep this mind:
Loan funds must be repaid – borrow no more than what you need.
LOAN INFO
- Low-interest
- FAFSA Required
- Minimum half-time enrollment
- Master Promissory Note required
- Loan limits determined by grade level
- Loan origination fees tend to be low
- Undergraduate students
- Awarded based on financial need
- Credit check not required
- Interest payments not required during deferment or until repayment begins
- Repayment begins 6 months after graduation or less than half-time enrollment
- Federal Direct Loan requirements (above) also apply
- Undergraduate or graduate students
- Not awarded based on financial need
- Credit check not required
- Interest is charged when loan is disbursed but can be deferred (i.e., capitalized)
- Repayment begins 6 months after graduation or less than half-time enrollment
- Federal Direct Loan requirements (above) also apply
- Available to parents of dependent students
- FAFSA required
- Credit check required
- Interest rates higher than Federal Direct Loans
- Master Promissory Note required
- Loan origination fees much higher than Federal Direct Loans
- Loan cannot exceed cost of attendance minus other aid awarded
- Interest charged when loan is disbursed but can be deferred (i.e., capitalized)
- Repayment begins after loan is fully disbursed (repayment deferment available)
- Available to graduate students & professional students
- FAFSA required
- Credit check required
- Interest rates higher than Federal Direct Loans
- Master Promissory Note required
- Loan origination fees much higher than Federal Direct Loans
- Minimum half-time enrollment
- Interest charged when loan is disbursed but can be deferred (i.e., capitalized)
- Repayment begins after deferment period ends
- For students who need additional funds to meet education costs
- Consider only when all other options have been exhausted
- Credit check required
- Repayment & interest deferral less generous than Federal Student Loans
- Interest rates typically higher than Federal Student Loans
- Low-interest loans available to SC residents
- Student must afree to teach in the public sector in SC
- Academic criteria must be satisfied
- Financial need is not a factor
- Loan forgiveness is available
