Student Loans

students at campus event

If your scholarships and grants don’t cover all the costs, student loans are an option to help you pay for school.

Remember, these will have to be paid back. Depending on the type, some student loans don’t gain interest as long as you are enrolled in school full-time, but some begin accruing interest immediately.

Types of Undergraduate Student Loans

Direct Subsidized and Unsubsidized Loans

Low-interest student loans available to degree-seeking undergraduate students. Subsidized loans do not accrue interest while you’re enrolled full-time in school. Unsubsidized loans begin accruing interest immediately.

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Direct Parent PLUS Loans

Available for dependent students. Parents, with good credit histories, of dependent students can borrow to help cover the costs of their student’s education.

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Federal Perkins Loans

This federal loan program, which provided low-interest loans to college students with financial need, expired on Sept. 30, 2017.

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Private Loans

Students who need additional funds beyond what they qualify for in federal student aid (including Federal Direct Loans) or federal aid options have been exhausted may wish to apply for a private (alternative) education loan.

Students should exhaust federal loan options first before considering a private loan.

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General Student Loan Information


  • You must be enrolled at least half-time to qualify for a student loan.
  • The Free Application for Federal Student Aid (FAFSA) must be completed and all required financial aid documents must be on file in the UTC Financial Aid Office.
  • Students must adhere to all UTC enrollment and Satisfactory Academic Progress standards.
  • An EXIT Loan Counseling must be completed when you graduate or each time you are no longer enrolled at least half time.
  • Loans are generally repaid in 10-25 years depending on the repayment plan chosen.
  • If your graduation date changes, you must notify the Financial Aid Office so that your financial aid can be awarded for the following semester.
  • You must be fully admitted in a degree-seeking program.

The Effects of Long Term Borrowing

Here’s some vital information and tips to help decide if student loans are right for you.

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Managing Your Loans

  • How much have I borrowed? Log in at the Federal Student Aid site to see your student loan history. You will need your FAFSA PIN to log in.
  • Do you have student loans with more than one lender? If yes, you may want to consider loan consolidation.
  • Information regarding loan forgiveness, cancellation or discharge, is available on the Department of Education's website.

Repaying Your Federal Student Loans

When it comes to repaying your student loans, you can choose from several repayment methods.

If you fail to notify your loan servicer (company that handles the billing and other services for the Direct Loan Program and Federal Family Educational Loan Program), you will automatically be enrolled in the Standard Repayment Plan. Under the Standard Repayment Plan, you will pay the same monthly payment for 120 months (10 years).  

For more information on how to repay and where to repay your federal loans, visit the Federal Student Aid website. To estimate your monthly payment, use the student loan payment calculator.