The federal government has a variety of federal loan options available for students and parents, and we encourage you to review the following information carefully before making any decisions about your loans. If you have previously borrowed federal student loans at the University of Northern Iowa or another postsecondary institution, you should begin by reviewing your borrowing history at www.nslds.ed.gov using your FSA ID. This will give you a better idea of how much you have borrowed to date and what your repayments might look like after graduation. Most importantly, remember that these are loans and they must be repaid, so borrow only what you need. Please refer to the following links to help you better understand your loan options. You do not have to make payments on Direct Stafford Loans while you are enrolled at least half-time (deferment). You also have a six month grace period after you graduate or drop below half-time enrollment before you begin repayment.
Federal Direct Loans: Loan option that is available to all undergraduate and graduate students, with both Subsidized and Unsubsidized options depending on financial need.
Federal Direct PLUS Loans: Loan option for parents of undergraduate students
Federal Direct Graduate PLUS Loans: Loan option for graduate students that have already exhausted their Federal Direct Loan options.
Private Education Loans: Loan option offered through private banks and lenders. Generally only accepted if all other financial aid options have been exhausted.
Federal Perkins Loans: Interest-free loan (while in school) that is awarded to students on a first come, first serve basis.
Loan Forgiveness Programs