ASU offers several types of loans to students and their families.
The following are made through the U.S. Department of Education:
- ▶ Direct Subsidized Loans
- Are for students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half-time, during the grace period and during deferment periods.
- ▶ Direct Unsubsidized Loans
- Are not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.
- ▶ Direct PLUS Loans
- Are unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.
- ▶ Direct Consolidation Loans
- Eligible federal student loans can be combined into one Direct Consolidation Loan.
- ▶ Federal Perkins Loan
- The Federal Perkins Loan is a campus-based federal program, and funding is limited. Award amounts are limited to award year and aggregate maximums.
The following are made through the Texas Higher Education Coordinating Board.
- ▶ College Access Loan (CAL)
- College Access Loans are designed to help students whose families are experiencing difficulty meeting the Expected Family Contribution (EFC) toward educational costs.
- ▶ B-on-Time Loan
- This state-funded program was developed to provide non-interest bearing loans to eligible students to help them attend colleges and universities in Texas. The Texas B-on-Time Loan Program also provides loan forgiveness.
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