Learn about loans
A loan is a form of financial aid that you will have to repay, but can be a valuable resource in assisting you in paying for college. IU Fort Wayne participates in the Federal Direct Loan program for all Federal Direct Subsidized, Unsubsidized, and PLUS loans. The lender for the Federal Direct Loan program is the U.S. Department of Education.
Private student loans are offered by private lending institutions as an alternative aid option if additional funding is needed to supplement your state and federal aid. Before you consider borrowing a private student loan, we recommend you apply for federal student loans. The federal student loans generally have better terms and lower interest rates.
For all loans, you must meet these eligibility criteria:
- Be a U.S. citizen, U.S. national, or permanent resident of the United States
- Be admitted to a degree-seeking program
- Meet satisfactory academic progress requirements
- Not be in default on prior educational loans