Loans are funds that you must repay. Federal Loan programs offer a secure, government-regulated and reasonably affordable way to invest in yourself and your goal of a higher education. Even though some loans are based on financial need, there are programs available to all federally eligible students regardless of income.
Federal Perkins Loans
This is a low interest (5%) loan to help pay for both undergraduate studies, and graduate studies. Priority is given to students who show exceptional financial need. Federal Perkins Loans are made through Arkansas State University with government funds. This loan must be repaid.
Federal Direct Grad PLUS Loans
Federal Direct Grad PLUS Loans enable Graduate and Professional students with good credit history to borrow additional funds if they are enrolled at least half-time (5 hours). Direct Grad PLUS loan eligibility is not based on financial need, so these loans are made regardless of income level.
Private Student Loans
These Student Loans are recommended only for students who have exhausted all of their eligibility for Federal Direct Unsubsidized Loans and Grad PLUS Loans, or are not eligible for the Federal Direct Unsubsidized Loans or Grad PLUS loans.