After completing the FAFSA, you will receive an Award Letter from the college(s) you have listed on the FAFSA. They will list the loan types and amounts you are eligible for.
You may be awarded a Stafford Loan, a PLUS Loan, a Perkins Loan, or an Alternative Loan. Each of these loans have different interest rates, repayment requirements, deferment periods and cancellation options. Make sure you understand the above details BEFORE signing the loan papers. Do not take on more debt than necessary to attend college.
