Most students take out loans to help fund a portion of their college expenses. Loans must be repaid, so be sure to plan your finances carefully and borrow only what you can afford to repay.
Take a look through the common types of education loans available.
Also known as Direct Stafford Loans, Subsidized and Unsubsidized Loans are offered by the U.S. Department of Education rather than a bank. If you qualify for a subsidized loan, the government will pay the interest while you’re in school but you are responsible for the accrued interest on unsubsidized loans.
The PLUS Loan is a federal loan for parents of dependent students. Direct PLUS Loans are disbursed through the U.S. Department of Education with a fixed interest rate.
A number of lenders also offer private loans to students. Typically, repayment begins after short grace period and you are responsible for the interest while you’re in college. Most private loans require you to have a credit-worthy cosigner.
The Bethel University Office of Financial Aid adheres to the National Association of Student Financial Aid Administrators' Statement of Ethical Principles and Code of Conduct and Bethel's Code of Conduct Governing Educational Loan Activities.