One of the most common ways that people pay for college is through federal loans. Loans must be repaid, but they are extremely helpful in allowing you to afford going to school while living your life.
Since most people cannot just write a check and pay off their college tuition, federal loans are instrumental in allowing students to pay for their education.
Just like the Federal grant does require filling out the FAFSA form to become eligible for the loans.
How do I get a student loan?
Based on financial need, the institution can determine what amount of money you can receive from the various loan types, based on your need and other factors.
The most common types of federal loans include the following: Direct Subsidized Loan, Direct Unsubsidized Loan, Direct Plus Loan (Parent Loan) for Undergraduate Students.
To navigate the differences between these loans, talk to our Financial Aid office today to learn more.
How do I pay back school loans?
The benefit of attending a trade school like IntelliTec is that you are on the fast track to a great career. This means you are even closer to earning a salary, giving you the ability to pay back your loans.
It is important to keep in mind when you choose a loan what the timeline is for paying off your loans (when you must start paying them, and how often), but also knowing what interest rates are involved.
Interest rates on federal loans are set annually by the federal government, the more you borrow, the more you will end up having to pay back. Our Financial Aid office will give you the specifics on each type of loan and any available repayment options you can choose once you start repaying these loans.
What are the benefits of taking out loans?
Student loans are a very common way to pay for your school, allowing you to pay the school, do your work, graduate, and start your new life.
Especially if you do not meet many of the necessary requirements for grants or scholarships, loans can be the best way to secure funds for school. Even if you do qualify for grant or scholarship money, those free funds are often not enough to cover your entire tuition cost.
With loans, you can continue to go to school, work, and support your family without an added worry about finances.
Plus, along with our Financial Aid staff, IntelliTec also has a great Career Services team. When you finish your program at IntelliTec, our Career Services staff is here to help you. We do everything we can to get you placed into a great job, allowing you to have the necessary funds to start paying off your loans quickly.
Types of Federal Educational Loans
Direct Subsidized Loan (Federal Student Loan)
Direct Unsubsidized Loan (Federal Student Loan)
Federal Perkins Loan (School Based Loan)
Direct Plus Loan for Undergraduate Students (Parent Loan)
Loan Repayment Scam Alert
Letter to IntelliTec Students & Grads: Please read our letter on the IntelliTec Blog for more details.