Loans may be offered to you as part of your school's financial aid package. It is important to understand that you can decline these loans or return partial/full loans. If you take out a loan you must pay it back with interest. Student must be enrolled at least half time in a qualified program of study. Loan counseling is required through SVCC's financial aid office.

There is a difference between federal and private student loans. Those that come from the federal government usually offer lower interest rates. The William D. Ford Federal Direct Loan (Direct Loan) Program is the largest federal student loan program. Under this program the U.S. Department of Education is your lender. (www.studentaid.gov)

  • Direct Subsidized

    Financial need must be demonstrated. The U.S. Department of Education pays the interest while student is in school (at least half time), for the first 6 months after you leave school, and during a period of deferment.
  • Direct Unsubsidized

    No financial need requirement. Student is responsible for paying interest on loan during all period at 4.29%.
  • Direct Plus

    PLUS loans are federal loans that parents of dependent undergraduate students can use to help pay education expenses. The borrower must not have an adverse credit history. Interest is accrued during all periods of loan at 6.84%.