An education is one of the best long-term investments you can make in your future, and borrowing is one way to fund that investment. With careful planning, a loan can be a smart decision for you and your family, as many educational loans have more favorable terms than other consumer loans (such as car loans or credit cards). However, since all loans must be repaid, you should only borrow what you need, explore other financial aid options, and earn as much as you can through employment.
Learn more about available loans:
- Federal Perkins loan
- Federal Direct Subsidized/Unsubsidized loan
- Federal Direct Parent Loans for Undergraduate Students (PLUS)
- Private Education loans
The Student Loan Process
If you were offered a federal loan in your financial aid award letter, you must complete additional steps before it can pay to DU. Please refer to the "Financial Aid Requirements" box on the Student tab of PioneerWeb for a list of outstanding items. You must also be enrolled in at least 6 credits during the quarter; federal loans cannot be used to pay for interterm classes. Once you have completed a requirement for a federal loan--or applied for a PLUS/private loan--we will be notified electronically. Loans will disburse to your DU student account and will pay toward your charges no earlier than 10 days prior to the start of the quarter (similarly to all other types of aid). Learn more about billing and disbursement.
If you borrow from one or more of the federal student loan programs, information regarding your federal loans will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guarantee agencies, lenders and institutions determined to be authorized users of the data system.