Applying for Loans
When applying for financial aid, you may be offered loans as part of your financial aid award from the College of Charleston.
While you may be offered a student loan as part of your financial aid, you do not need to accept it. When you apply for financial aid, College of Charleston evaluates your eligibility for ALL types of aid including grants and loans. If your grants, scholarships and other resources are not enough, a student loan may be a viable option to help you cover your education expenses.
- Federal student loans allow students and their parents to borrow money to help pay for college through loan programs supported by the federal government. Federal loans usually have lower interest rates and offer flexible repayment options, benefits and options. Generally, repayment of a federal loan does not begin until after the student leaves school.
- Private/Alternative Loans are nonfederal loans issued by a private lender such as a bank or credit union. Private loans may have variable interest rates, require a credit check and may lack the benefits of federal student loans.
We encourage you to consider all financial options before applying for a private/alternative loan.
How to Apply
Follow these steps for applying for federal or private/alternative loans.