Federal Stafford Loan (click here)

Federal loan where the student is the borrower.

Federal Parent PLUS Loan (click here)

Federal loan where the parent is the borrower for their undergraduate dependent student.

Federal Grad PLUS Loan (click here)

Federal loan for students in a graduate or professional program where the student is the borrower. Student’s eligibility must first be determined for the federal Stafford loan.

Alternative Loans

Private educational loans offered by lenders and loan companies where the student is the borrower. Alternative Loans are credit-based loans for students with interest rates that may be variable and different repayment terms from the federal loans. This should be a last resort loan for students who may need to borrow additional money beyond the federal Stafford Loan to help supplement the Cost of Education. Credit-worthy co-signers are normally required for these loans. To apply, students should compare the variety of products lenders have to offer by visiting the lenders’ website. Students should apply directly with the lender and send an email to finaid@umw.edu stating their choice of lender and name of loan. Since these loans are credit-based, students should only apply for one alternative loan.