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Loans

About the Federal Direct Subsidized, Unsubsidized, Parent PLUS, and Graduate PLUS, as well as federal loan servicers and resources for private alternative loans.

Comparing Federal and Private Student Loans

We recommend using all federal loan eligibility before turning to private loans.

Federal Direct Loan Interest Rates

Federal Direct and PLUS interest rates for the 2017-18 and 2018-19 academic years

Federal Direct Subsidized and Unsubsidized Loans

Federal Direct Subsidized and Unsubsidized Loans (formerly known as Stafford Loans) are available through the William D. Ford Federal Direct Loan Program to help pay for educational expenses. The Penn State Office of Student Aid awards Subsidized or Unsubsidized Loans, or a combination of both, based on financial need.

Federal Direct Parent PLUS Loan

You may need funds in addition to your student's Federal Direct Loans to pay for your student's education. The Federal Direct Parent PLUS Loan is available to parents of dependent undergraduate students.

Federal Direct Graduate PLUS Loan

As a graduate or professional student, you may need to borrow more than the Federal Direct Loan to pay for your education. The Federal Direct Graduate PLUS Loan can help.

Private Alternative Loans

Private alternative loans are managed through private lenders, issued in the student’s name, and require a co-signer. Eligibility, rates, terms, and conditions vary.

Federal Perkins Loan

***Congress did not reauthorize the Federal Perkins Loan Program. No further Perkins awards will be made.*** This section will only provide information about re-payment.

University Loan

The University Loan is for undergraduate students and offers a 6 percent fixed, low-interest loan with zero origination fees.

Federal Direct Loans and Default

Default is a legal term used when a borrower fails to repay a loan according to the terms of the signed promissory note.

Student Loan Repayment Questions

If you are graduating or withdrawing from Penn State and have questions about student loan repayment, contact us!

Penn State Federal School Code

003329

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