For many students and families, educational loans are a necessary part of the process of paying for college. Student Financial Aid certifies loans for students, as well as Federal Direct Parent PLUS Loans for parents of undergraduates and Federal Direct Grad PLUS Loans for graduate students. Read on to learn more about the different types of loan programs at Carnegie Mellon.
Perkins loans are low-interest loans for both graduate and undergraduate students, funded by the federal government and administered by Carnegie Mellon. Eligibility is determined by completing the Free Application for Federal Student Aid (FAFSA).
The Federal Direct Student Loan is the most widely-used loan for college students and is available to both undergraduate and graduate students. There are two types of Federal Direct Student Loans, subsidized and unsubsidized, and your eligibility for both is determined by completing the FAFSA.
The Federal Direct PLUS Loan is a financing option for parents of undergraduate students. Graduate students are eligible to apply for a Federal Direct Grad PLUS Loan.
There are many other loan options provided by private lenders that can provide supplementary funding for students.