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Determining What to Borrow: Home

Students may not have the ability to afford to pay the cost of tuition without the use of financial aid. Financial aid can include loans, grants, scholarships, and work-study employment. Financial aid may cover part or all of the cost of your tuition, and if using loans it is important to ask yourself this question:

Do you know how much Federal Student Loans you borrowed?

The Federal Direct Loan program consists of Subsidized, Unsubsidized, PLUS, and Graduate/Professional Student loans. This loan program is regulated by Congress and the U.S. Department of Education. The interest rates for Direct Subsidized, Direct Unsubsidized, and Direct PLUS loans first disbursed on or after July 1, 2024 and before July 1, 2025 are listed below:

  • Direct Subsidized and Direct Unsubsidized Loans (Undergraduate Students): 6.53%
  • Direct Unsubsidized Loans (Graduate and Professional Students): 8.08%
  • Direct PLUS Loans (Parents of Dependent Undergraduate and Graduate and Professional Students): 9.08%

We recommend you complete the Annual Student Loan Acknowledgment each year you accept a new federal student loan. Within this interactive tutorial you’ll also see other federal student aid information, including the interest rates and repayment options to make managing your student loans easier.

Additional information on the Federal Direct Loan Program can be found at Federal Student Loans.

If you do not know what type of loan you have, log into your account on the Federal Student Aid website with your FSA ID, or contact the Federal Student Aid at 800-433-3243.

Scholarships

Scholarships are gift aid that don't need to be repaid. Scholarships are offered through a variety of sources such as employers, individuals, private companies, nonprofits, communities, religious groups, and professional and social organizations.

  • Scholarship Search
    • Easily find and sort through hundreds of college scholarships.
  • Fastweb
    • No cost scholarship search platform that connects students to college scholarships, trade school scholarships, and financial aid news and resources. Students create a profile and get personalized scholarship recommendations.
  • U.S. Department of Labor’s Scholarship Search tool
  • Your State Grant Agency
  • Foundations, religious or community organizations, local businesses, or civic groups
  • Organizations (including professional associations) related to your field of interest
  • Ethnicity-based organizations
  • Your employer or your parents’ employers

Tuition Reimbursement

Many employers offer some level of tuition reimbursement to their employees. Whether your employer offers full or partial reimbursement, this valuable benefit can help you save money and reduce your student debt while you earn your degree. Check out the following tips to see how you can make the most of tuition reimbursement opportunities through your employer:

1. Talk to HR about tuition options through your employer, which may include:

  • Partnerships: Your company may partner with a specific college that offers discounts.
  • Direct Pay Tuition Assistance: There may be eligibility requirements, but this option means your employer pays for whichever college you attend.
  • Tuition Reimbursement: You, the student, pay for college but are reimbursed afterward by your company.

2. Choose courses or a program that meet(s) requirements set by your employer. However, they may require that your degree is applicable to your job.

3. Let your employer know the benefits of the program, including what you will gain and how this will help your position in the company. Furthermore, you should prepare responses to address any concerns your employer may have (i.e., How will you balance school and work? How do you plan on using these acquired skills?).

4. Meet with your employer to go over the benefits that both you and the company would receive in furthering your education.