Loans

Loans are a form of financial aid that must be repaid and can come from the federal government, the University and private lending sources.

Important updates

  • PSLF Limited Waiver Update!
    FedLoan Servicing is actively working with ED to implement the waiver and update borrower account over the next few months, and if applicable, borrowers will begin to see updates to qualifying payment counts.
  • Federal student loan flexibilities for the COVID-19 emergency have been extended through August 31, 2022.
    0% interest rate and temporary suspension of payments for borrowers extended through to August 31, 2022.

Federal loans

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.

Direct Subsidized Loan

The Federal Direct Subsidized Loan is a federally-sponsored "need-based" loan available to undergraduate students only.

Direct Unsubsidized Loan

The Federal Direct Unsubsidized Loan is available to undergraduate, graduate and professional students, but is not based on financial need.

Direct PLUS (Parents)

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 (Grad)

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

Institutional loans come from the University of Nevada Reno and offer students a variety of additional funding options for their college education.

Garvey-Rhodes and Blundell Undergraduate loans

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.

 

Federal Nursing Student Loan (NSL)

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.

Other types of student loans

Private loans

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.

Nursing Student Loans

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.

Repayment Readiness

Loan repayment options

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

  • Be employed by a U.S. federal, state, local, or tribal government or non-for-profit organization (federal service includes U.S. military service);
  • Work full-time for that agency or organization
  • Have Direct Loans (or consolidate other federal student loans into a Direct Loan);
  • Repayment your loans under an income-driven repayment plan; and
  • Make 120 qualifying payments.

Exit counseling

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.

Loan simulator

Use this tool to calculate your specific federal loan repayment options based on the different repayment plans available. 

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