Student Loans: Borrow Smart. Graduate Confident.
“Understanding your student loans today can save you thousands of dollars tomorrow.”
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Student Loan Basics
Not all loans are the same. Knowing which kind you're offered is the single biggest money decision you'll make in college — and it takes about four minutes to learn.
Direct Subsidized Loans
Best for students with demonstrated financial need
Learn more
Direct Subsidized Loans
Best for students with demonstrated financial need
Learn more- Who qualifies
- Undergraduates who file the FAFSA and show financial need. Your school decides the amount.
- Interest while in school
- The government pays the interest while you're enrolled at least half-time, during the 6-month grace period, and during approved deferment. Your balance doesn't grow.
- Benefits
- Fixed rate, no credit check, income-driven repayment, deferment, forbearance, and possible loan forgiveness programs.
- Things to consider
- Annual and lifetime limits are lower than other loans, and they're only for undergrads. Borrow these first — they're the cheapest money you'll be offered.
Direct Unsubsidized Loans
Available to almost every student who files the FAFSA
Learn more
Direct Unsubsidized Loans
Available to almost every student who files the FAFSA
Learn more- Eligibility
- Undergraduate and graduate students. You don't have to show financial need — just file the FAFSA and be enrolled at least half-time.
- Interest starts right away
- Interest accrues from the day the money is disbursed — including while you're in school. Unpaid interest gets added to your balance (capitalized) when repayment starts.
- Benefits
- Fixed rate, no credit check, and the same federal protections: income-driven plans, deferment, forbearance, and forgiveness options.
- Things to consider
- Paying even $25/month toward interest while in school keeps your balance from quietly growing before you graduate.
PLUS Loans
For parents of undergrads and for graduate students
Learn more
PLUS Loans
For parents of undergrads and for graduate students
Learn more- Parent PLUS Loans
- A parent borrows on behalf of a dependent undergraduate. The parent — not the student — is legally responsible for repayment.
- Graduate PLUS Loans
- Graduate and professional students can borrow up to the full cost of attendance minus other aid.
- Credit requirements
- There's a check for adverse credit history (not a score minimum). If denied, you can add an endorser or document extenuating circumstances — and the student may qualify for extra unsubsidized loans.
- Interest
- Fixed, but the highest of the federal loans, plus a larger origination fee. Interest accrues immediately.
- When these make sense
- After you've used every grant, scholarship, work-study dollar, and subsidized/unsubsidized loan — and the family is confident about the monthly payment.
Private Student Loans
Consider only after federal aid is maxed out
Learn more
Private Student Loans
Consider only after federal aid is maxed out
Learn more- Who offers them
- Banks, credit unions, and online lenders — not the federal government.
- Credit check or cosigner
- Most students need a creditworthy cosigner, who is fully responsible if payments are missed.
- Interest rates vary
- Rates can be fixed or variable and depend on credit. Variable rates can rise after you graduate.
- Things to consider
- Usually no income-driven plans, limited deferment, and no federal forgiveness. Use as a last resort and compare at least three lenders.
You just learned what most borrowers never do. Free money first (grants and scholarships), then subsidized, then unsubsidized — and only then anything else.
Side-by-Side Comparison
Scroll sideways on your phone — the loan names stay on top.
| Feature | Subsidized | Unsubsidized | PLUS | Private |
|---|---|---|---|---|
| Interest while in school | Paid by the government | Accrues right away | Accrues right away | Usually accrues right away |
| Credit check required | No | No | Yes — adverse credit check | Yes — plus a cosigner |
| Flexible repayment options | Income-driven plans | Income-driven plans | Limited (consolidation may help) | Lender's discretion |
| Federal borrower protections | Full protections | Full protections | Most protections | None |
| Best use case | Borrow this first | Fill the gap after subsidized | Family gap after all federal aid | Last resort only |
Student Loan Impact Planner
If I borrow this much, what will it cost me — and what can I do to reduce that cost? Fill in what you know and watch the whole dashboard update as you go.
Your profile
Nothing here is saved or shared. Estimates are fine — you can change any number.
Auto-estimated from your major and degree level ($52,000). Edit it any time.
Interest rate defaults to a recent federal undergraduate Direct Loan rate. Check studentaid.gov for the current year's rate.
Your loan impact dashboard
Principal vs. interest
How much of what you repay is the money you borrowed?
- Total borrowed (principal)
- $18,000
- Total interest paid
- $6,559
- Total cost of the loan
- $24,559
- Paid off by
- September 2036
Your estimated payment is about 5% of your projected monthly income ($4,333/month before taxes).
This payment looks very manageable based on your expected income — you'd still have plenty of room for rent, food, and saving.
What can I do to lower this cost?
Slide to add a little extra each month and watch what happens.
Original plan
- Monthly payment
- $205
- Payoff time
- 120 months
- Total interest
- $6,559
With extra payments
- Monthly payment
- $230
- Payoff time
- 103 months
- Total interest
- $5,655
Interactive “What if?” simulator
Move any slider and every number below updates instantly. There are no wrong answers here — this is just a way to see your options.
Borrow less
“What if I borrowed…”
- Monthly payment
- $205
- Total repayment
- $24,559
- Interest paid
- $6,559
- Lifetime savings
- $0
Graduate earlier
Finishing sooner means fewer terms to borrow for.
- Loans avoided
- $0
- Interest avoided
- $0
- Financial freedom
- Same timeline
Graduating sooner isn't realistic for everyone — work, family, and course availability all matter. But if it's possible, even one fewer semester can cut your borrowing.
Interest rate comparison
Even a small rate change moves the total you repay. Federal loans usually have lower, fixed rates than private loans.
Career impact panel
Your income shapes how a loan payment feels. Add a career or two to compare — take-home pay is estimated at about 78% of gross after taxes.
| Career | Starting salary | Monthly gross | Est. take-home | Loan payment | % of take-home |
|---|---|---|---|---|---|
| Other / Undecidedyour major | $52,000 | $4,333 | $3,380 | $205 | 6.1% |
A common guideline: student loan payments under about 10% of take-home pay usually leave room for rent, food, and saving. Higher than that isn't a failure — it just means income-driven repayment plans, extra payments later, or borrowing a bit less are worth a look.
Future Me summary
Future You graduates in 2028 with approximately $18,000 in student loans. Based on your projected salary as a Other / Undecided graduate, your estimated monthly payment would be about $205.
If you paid an extra $25 each month, you could become debt-free approximately 1.4 years earlier while saving nearly $904 in interest.
Borrowing $2,000 less today could reduce your monthly payment and save even more over the life of the loan.
Debt-free countdown: 103 months to go.
Milestone unlocked: $904 saved just by planning ahead.
Before you click “Accept”
You are considering borrowing:
$6,000
Estimated impact:
- • Monthly payment increases by approximately $68
- • Total repayment increases by approximately $8,186
- • Estimated interest paid increases by approximately $2,186
Before accepting this loan, consider whether you could reduce the amount by:
Student loans are a tool, not a mistake. Borrowing to finish your degree is often the right call — the goal is simply to borrow on purpose, and only what you truly need.
You don't have to get this perfect today. Knowing your number is what keeps you in control of it.
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