Because grants and scholarships are limited, many students must rely on loans to cover at least some portion of college costs. Undergraduate and graduate students as well as parents of undergraduate students may borrow money for education. In fact, approximately 80% of Pitt-Bradford’s aid recipients borrow educational loans.
The following steps represent borrowing options beginning with the best value and proceeding to other, less favorable loan options based on interest rates, loan terms and conditions, and repayment options. These loan options may be used alone or in combination with each other. Select the loan links below for more information about each option.
Federal Perkins Loan
A federal low-interest loan (fixed at 5%) awarded to both undergraduate and graduate students with high financial need.
Federal Direct Stafford Loan
A federal loan program available to all students.
Federal Direct Parent PLUS Loan
This Direct Loan program allows parents of dependent undergraduate students to borrow a federal Direct Parent PLUS Loan to help pay for educational expenses.
Private Alternative Loans
Students who need additional funds after considering the feasibility of the loan options in Steps 1 and 2--or students who are ineligible for federal aid--may need to apply for an alternative loan.
Comparing the Federal Direct Parent PLUS Loan to an Alternative Loan
You Need to Ask Your Lender
Consequences of Defaulting
Note: A FAFSA is not required to apply for an alternative loan, but is highly suggested as you should always take Federal aid before applying for alternative loans.
Private Lenders This is an alphabetized list of lenders other students at UPB have used.
Cedar Education Lending
Credit Union Student Choice
Discover Student Loans
Higher Education Student Assistance Authority (New Jersey students only)