Last updated on January 12, 2021
When applying for U.S. Loans it’s important to understand the types of loans that are available at AUC.
There are two types of student loans:
Federal Student Loans: These loans are funded by the U.S. federal government.
- Direct Subsidized Loans and Direct Unsubsidized Loans
- Direct PLUS Loans (for graduate and professional students or parents)
Private Student Loans: These loans are nonfederal loans, made by a lender such as a bank, credit union, state agency or a school.
- Sallie Mae Smart Option Student Loans
- Parent Loan
If you need to borrow money to pay for college, start with U.S. Federal Student Loans. Federal student loans include many benefits, such as fixed interest rates and income- driven repayment plans, not typically offered with private loans. In contrast, private loans are generally more expensive than federal student loans.
Loan Summary Chart
To view the loan summary chart, click here.