All loans must be repaid. Therefore, when deciding whether to borrow, you should examine your need for assistance and your future ability to repay. Unlike consumer loans, student loans have longer terms of repayment and in most cases are not repayable until you leave school. Interest rates vary from program to program but are usually lower than rates on loans made to the general public. The precise terms of the loans are contained in the promissory notes that borrowers must sign. The descriptions given here are summaries of terms available at the time of printing and are subject to change.

financial aid awards that the student (or other party like a parent, for example) borrows from a lender, the school or other third party. Loans must be repaid by the borrower according to the terms of a promissory note, usually with interest.

Funds for educational expenses, which usually must be repaid to the lending foundation, often with a pre-determined interest percentage added to the loaned amount.

are monetary advances granted to students currently registered. They are based upon a demonstrated means and promise of repayment.

A form of financial aid consisting of funds that must be paid back, usually after the student leaves school.

Funds available through banks, the College, or other private sources. Terms vary based on need or non-need basis, rate of interest, interest benefits, repayment period, and credit worthiness. Berea attempts to minimize loan debt.

Loans must be repaid, but repayment on many student loans may be postponed while you're in college.

Financial Aid which must be repaid. Loans may have a variety of repayment methods.

Awards based on financial need that require repayment. Loans are available through the Federal government and the University.

With this aid, students borrow money that they later repay with interest. Several types of loans exist, and amounts and terms differ.

A loan is money given by the university to a student for financial assistance.

Financial assistance that must be repaid.

These have to be repaid.

Money provided to students, which must be repaid. Generally, student loans have low interest rates, permit a long time for repayment and have liberal deferment provisions. Some current loan programs: Stafford Subsidized Loan – A subsidized low interest loan offered in conjunction with private lenders. Interest and principal are deferred for periods of at least half time enrollment. Stafford Unsubsidized Loan – A low interest loan available to students not eligible to borrow any or all of the subsidized Stafford Loan. Interest must be paid by the student or capitalized during the school period. Perkins Loan – A federal low interest loan, offered by the college as the lender, based on the availability of funds. PLUS Loan – arent oan to ndergraduate tudents

Funds provided to students or parents for educational expenses with the promise to be repaid to the lending organization within a specific period of time with interest. Please consult the Financial Aid Office for the types of loans available, eligibility requirements and their interest rate and repayment plans.

A form of financial aid that must be repaid with interest. Loans provide monetary assistance through participating lenders, colleges, the federal government, and other organizations. Loan funds are to be used for educational purposes and must be repaid.

A sum of money lent on which interest is paid and repayment is expected at a date in the future. Most financial aid, approximately 55%, is in the form of loans and is subsidized by the government, which means that the interest rate is low and generally no interest accrues until repayment begins after graduation.

Are awards made with a formal agreement for repayment with interest.

see "Program-related Investments/Loans" and "Student Loans-to Individuals.")

Borrowed funds, which must be repaid with, interest.

borrowed funds that require eventual repayment (as incurred or post-graduation); typically need-based.

financial awards that must be repaid over time with varying levels of interest, offered by the government as well as private companies like Sallie Mae.

Low interest loans are available to students to assist with meeting educational expenses. Loans do have to be repaid. (Review the Loans section for detailed information about loans available to East Central College students.)

Loans are usually obtained from banks or college sources and must be repaid with interest. Most often they are paid back after one's education is completed. [ BACK

Money that is borrowed from federal or state governments, colleges, banks or agencies that specialize in making student loans. Some loans are need-based; others are not. Federal government loans include Federal Perkins Loans, subsidized and unsubsidized Federal Stafford Loans and Federal Direct Stafford Loans, Federal PLUS loans and Federal Direct PLUS Loans.

Loans are money that the company owes. Like assets, they can be short or long term, based on when they will be paid off.