Student Loans

With the increasing cost of higher education, many students find student loans to be the most practical means of financing a college education. The U.S. Department of Education offers the Federal Direct Loan Program to assist students and parents of dependent undergraduate students. Below is a short description of each program. You may find more detailed information in the Student Guide, published each year by the U.S. Department of Education and available at

Federal Stafford Subsidized Loan

This loan is available to dependent and independent students who demonstrate financial need as determined by the FAFSA. Interest is subsidized (paid by the government) while the student remains enrolled at an eligible institution for a minimum of six credit hours. Repayment begins six months after graduation, withdrawal from college, or enrolling in less than six credit hours.

Federal Stafford Unsubsidized Loan

This loan is available to independent students and to dependent students who are not eligible for subsidized loans due to lack of financial need. The student is responsible for interest immediately following the disbursement. Repayment begins six months after graduation, withdrawal from college or enrolling for less than six credit hours.

Federal Parent Loan for Undergraduate Students (PLUS)

This loan is available to credit-worthy parents of dependent undergraduate students. Parents may borrow the entire cost of attendance less any financial assistance. Repayment begins 60 days following the full loan disbursement. Supplemental credit and financial information may be required by the lender.

Private Loans

Private loans are available to students at Aquinas College. The Office of Financial Aid at Aquinas College encourages students to utilize all federal, state, and institutional funding available before applying for a private loan. Private loans are non-federal, credit-based loans that must be paid back. In some situations students will be required to have a co-signer in order to qualify for private loan funding. The interest rate for private loans is a variable rate based on the prime rate or LIBOR, plus a fixed percentage based on the borrower’s or co-signer’s credit rating.

Below is a list of lenders from which Aquinas College students have borrowed from the last two years. Students may select any lender, including those not listed below. Regardless of which lender you select, the Office of Financial Aid will process your information and request funding from the chosen lender.