Home / Cost & Aid / Financial Aid / Loans Invest in your future A student loan is borrowed money from the government or a private lender to cover college costs like tuition, books, supplies, and living expenses. Unlike scholarships or grants, loans must be repaid with interest, so it’s important to borrow only what you need. Learn more about the types of loans to find the best fit for your financial situation. Federal Direct Loans The U.S. Department of Education provides low-interest loans, called Federal Direct Loans, which offer fixed interest rates and flexible repayment options, making them a reliable choice for many students. Federal Direct Loans Private Loans Private loans are offered by banks or other financial institutions to help cover remaining educational costs. These loans typically have variable interest rates and fewer repayment options compared to federal loans. About Private Loans Cost & Aid Cost of Attendance Tuition & Fees Estimated Cost Net Price Calculator Financial Aid Types of Aid Apply for Aid Scholarships Loans Federal Direct Loans Private Loans Forms Refunds Keeping Financial Aid Contact Financial Aid Tuition Programs Community College Guarantee Michigan Reconnect Jackson College Advantage Connect With My Future Billing & Payment Payment Due Dates Payment Options Student Finance Account 1098-T FAQ Contact the Business Office
