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.  

Step 1:  

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.  

Step 2: 

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. 

 Step 3:  

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    

 Loan Consolidation  

 Consequences of Defaulting 

Note: A FAFSA is not required to apply for an alternative loan.  

 Private Lenders

Cedar Education Lending

 Chase 

Citibank  

Citizens Bank 

Credit Union Student Choice 

Discover Student Loans 

Higher Education Student Assistance Authority (New Jersey students only)

PNC Bank 

Sallie Mae 

Wells Fargo