Learn about loans
A loan is a form of financial aid that you will have to repay even if you don’t finish your schooling. Loans are an investment in your education, but loan debt can add up quickly for you (or your parents). Borrow only what you truly need to cover your costs.
For all loans, you must meet these eligibility criteria:
- Be a U.S. citizen, U.S. national, or permanent resident of the United States
- Be admitted to a degree-seeking program
- Meet satisfactory academic progress requirements
- Not be in default on prior educational loans
Remember, you’re required to repay loans even if you do not finish your academic program or your program doesn’t meet your expectations.