Loans

MUST be paid back, even if you do not graduate.

General student loan debt facts. The most recent reports indicate there is:

• • $1.56 trillion in total U.S. student loan debt

  • Average monthly student loan payment (among those not in deferment): $393

Loan types:

You may seek private loans through a bank. The U.S. Department of Education has direct loans available when you apply for student aid.The following types of Direct Loans are available:

Direct Subsidized Loans are for eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school. The loan won’t accrue interest as long as you’re enrolled at least half-time.

Direct Unsubsidized Loans are for eligible undergraduate, graduate and professional students, but in this case, the student doesn’t have to demonstrate financial need to be eligible for the loan. This loan begins accruing interest as soon as you receive them, and you’re responsible for paying that interest.

Direct PLUS Loans are for parents to help their dependent students pay for college or for a graduate or professional degree seeking student. Check with your college’s financial aid office to find out more.

Direct Consolidation Loans allows students who already have eligible federal student loans to combine them into one single loan with a single loan servicer. Check with your college’s financial aid office for more information.

Step-Up Utah to Higher Education

StepUp to Higher Education is Utah’s go-to source for expert college info and guidance on preparing and paying for college. StepUp helps you discover the college path that's right for you, whether that means a one-, two-, or four-year degree.