Loans are a form of financial aid that must be repaid and can come from the federal government, the University and private lending sources.
The William D. Ford Federal Direct Loan (Direct Loan) Program is the U.S. Department of Education’s federal student loan program. The U.S. Department of Education acts as the loan lender and there are several available loan types for undergraduate students, graduate students, professional students and parents.
The Federal Direct Subsidized Loan is a federally-sponsored "need-based" loan available to undergraduate students only.
The Federal Direct Unsubsidized Loan is available to undergraduate, graduate and professional students, but is not based on financial need.
Direct PLUS loans are made to parents of dependent undergraduate students and has specific eligibility requirements and is not based on financial need.
Direct PLUS loans are made to graduate and professional school students and has specific eligibility requirements and is not based on financial need.
Institutional loans come from the University of Nevada Reno and offer students a variety of additional funding options for their college education.
Garvey-Rhodes (GRLN) and Blundell Undergraduate (BLUN) are need-based loans for undergraduates funded from institutional endowments that each offer low interest (5%), long-term loans.
The Federal Nursing Student Loan (NSL) is a need-based, long-term, low interest (5%) federal loan specifically for students admitted into the Orvis School of Nursing. There are no processing fees. Interest does not accrue and there is no repayment while you remain enrolled at less than half-time. The standard repayment term is ten years.
A private loan is a consumer-based, non-need-based loan. The interest rate for a private loan is usually considerably higher than the rate for a federal loan.
The Nursing Loan (NSL) is a need-based, long-term, low interest (5%) federal loan specifically for students admitted into the Orvis School of Nursing.
Even though most borrowers are assigned a standard repayment plan when you first begin repayment, you can change your repayment plan with your federal loan servicer to fit your needs. For more information on each type of repayment plan, please visit the Federal Student Aid website Repayment Plan List.
There are also specific repayment plans that borrowers must be enrolled in in order to qualify for the Public Service Loan Forgiveness (PSLF) program. To qualify for PSLF, you must
Are you about graduate or dropping below half-time enrollment? Exit counseling is a course to ensure you understand the loan repayment obligations when your 6 month grace period ends.
Use this tool to calculate your specific federal loan repayment options based on the different repayment plans available.
