Loans must be repaid with interest. Types of loans available include, the Federal Direct loan, the Federal Direct Plus (Parent) loan, the Federal Perkins loan and other Alternative loans through various lenders. Repayment on the Subsidized Direct loan begins 6 months after you leave school, or drop to less than 6 credit hours per semester. Repayment of Perkins loans begins 9 months after you leave school or drop to less than 6 credit hours per semester.
Note: The Federal Government is phasing out the Perkins Loan program. No new Perkins loans may be processed after September 30, 2017.