Loans

2024-2025 Loan request form

WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM

Federal Direct Subsidized Loan

Need-based, federally subsidized loans with a fixed rate for undergraduate students. Repayment is deferred until students graduate, withdraw or enroll less than half-time. Interest is paid by the federal government until students graduate, withdraw or drop below half-time enrollment. An origination fee is charged at disbursement.

Federal Direct Unsubsidized Loan

Not based on need. “Unsubsidized” means the interest is not deferred while in school. However, repayment may be deferred until after students graduate, withdraw or drop below half-time enrollment. Unsubsidized loans have a fixed interest rate. An origination fee is charged at disbursement.

Federal Direct Parent Loan for Undergraduate Students (PLUS)

PLUS loans allow parents of dependent undergraduate students to borrow up to the cost of education minus other financial aid. There are no aggregate loan limits. The program has a fixed interest rate. An origination fee is charged at disbursement.

Federal Direct Student Loans at the Community College of Rhode Island

Private Education Loans

Private education loans are an alternative financing option to cover costs associated with attending college. These are typically credit-based educational loans that are provided through various private lenders or state loan authorities. Since these loans are credit-based a credit worthy U. S. borrower is required, and many times a co-borrower is necessary.

 Private Education Loans at the Community College of Rhode Island.